Religare Health Trust *Official* (SGX: RF1U)

[Minx99]

How to vote NO if my shares are under custodian a/c? Bought under SCB.

Call SCB to find out unless some expert here can help? I know kachang about custodian accounts...

 

[Fiery123]

gonna vote for the first time too.
No!!
They should digitalise this voting :/

 

[appl888]

Yes
There is no free postage

must personaly go down to the office to deposit the form?

 

[appl888]

You have to go scb thread to ask the experts there

How to vote NO if my shares are under custodian a/c? Bought under SCB.

 

[appl888]

You have to go scb thread to ask the experts there

HWZ Scb Trading thread

 

[Minx99]

gonna vote for the first time too.
No!!
They should digitalise this voting :/

Why you should vote NO for this acquisition deal
1) First, you need to understand Fortis motivation to acquire RHT's assets
Fortis by agreement need to pay RHT an annual 3% step up fee. This amount would compound over the years & become a huge burden for Fortis. For unit holders, it's good as your DPU will keep increasing every year.
2) The deal is structured to benefit Fortis at the expense of unit holders. RHT's assets are mostly freehold(2/3) & profitable. Demand overwhelm supply in the Indian healthcare industry. Don't you think you deserve a premium for your valuable asset or are you going to accept their low ball offer price? They expect the unit holders to absorb the depreciation of the Indian Rupee since the offer was made. Shouldn't it be the other way around?
3) If you reject the deal, they are under pressure to come back with a better offer price as this 3% amount will compound over time. Don't you want to sell your assets at a higher price?
4) Do you think management deserve to be paid $9.7M performance fee for getting this lousy deal for unit holders?
5) If the deal goes through you will be left with an empty shell, a trust with no assets. RHT might get delisted by SGX. They propose to buy other assets after selling the hospitals. Why would one want to sell away lucrative assets to buy inferior alternative assets? Healthcare assets are the safest & "guaranteed-can-eat" assets when investing in India becos of the favorable demand supply dynamics. It's also a recession proof business. I would hesistate to invest in other assets in India.
Why does management want to sell away it's profitable assets & then go hunting for assets that are more risky?
I believe Unit holders would be better off holding on to RHT assets for future capital appreciation & dividend returns than accepting this lousy offer. Please vote NO for your money's sake...

 

[appl888]

Thank you minx99 for analysis

 

[cesc-ark]

It seem like you have to go down to the office to drop it after a second read...

don't know if can mail it

 

[appl888]

Call boardroom to ask?
I will be dropping there next week
Lolx

don't know if can mail it

 

[BlackIcE84]

i noticed this line in the "notes to proxy form":

"A Unitholder should insert the total number of Units held. If the Unitholder has Units entered against his/her name in the Depository Register maintained by The Central Depository (Pte) Limited (“CDP”), he/she should insert that number of Units. If the Unitholder has Units registered in his/her name in the Register of Unitholders of RHT, he/she should insert that number of Units. If the Unitholder has Units entered against his/her name in the said Depository Register and Units registered in his/her name in the Register of Unitholders, he/she should insert the aggregate number of Units entered against his/her name in the said Depository Register and registered in his/her name in the Register of Unitholders. If no number is inserted, this form of proxy appointing a proxy or proxies will be deemed to relate to all the Units held by the Unitholder."

In other words, we can just leave the "no of units" box BLANK right? that's the easiest way to ensure that ALL our votes end up being counted.

i asked because i wasn't sure exactly how many votes i can exercise in this voting process, because some are held by CDP, and some are held under SRS. So i will just leave it blank

 

[BlackIcE84]

Why you should vote NO for this acquisition deal
1) First, you need to understand Fortis motivation to acquire RHT's assets
Fortis by agreement need to pay RHT an annual 3% step up fee. This amount would compound over the years & become a huge burden for Fortis. For unit holders, it's good as your DPU will keep increasing every year.
2) The deal is structured to benefit Fortis at the expense of unit holders. RHT's assets are mostly freehold(2/3) & profitable. Demand overwhelm supply in the Indian healthcare industry. Don't you think you deserve a premium for your valuable asset or are you going to accept their low ball offer price? They expect the unit holders to absorb the depreciation of the Indian Rupee since the offer was made. Shouldn't it be the other way around?
3) If you reject the deal, they are under pressure to come back with a better offer price as this 3% amount will compound over time. Don't you want to sell your assets at a higher price?
4) Do you think management deserve to be paid $9.7M performance fee for getting this lousy deal for unit holders?
5) If the deal goes through you will be left with an empty shell, a trust with no assets. RHT might get delisted by SGX. They propose to buy other assets after selling the hospitals. Why would one want to sell away lucrative assets to buy inferior alternative assets? Healthcare assets are the safest & "guaranteed-can-eat" assets when investing in India becos of the favorable demand supply dynamics. It's also a recession proof business. I would hesistate to invest in other assets in India.
Why does management want to sell away it's profitable assets & then go hunting for assets that are more risky?
I believe Unit holders would be better off holding on to RHT assets for future capital appreciation & dividend returns than accepting this lousy offer. Please vote NO for your money's sake...

I agree.

my main concern, however, is that as minority shareholders, we will not have sufficient sway to move the voting needle. does anyone know how many % of RHT is held by institutional investors?

 

[appl888]

For esr, I submitted 2 forms
One to cdp
One to my cpf investment bank

They sent me 2 copies of the proxy form
So I submitted 2 copies

i noticed this line in the "notes to proxy form":

"A Unitholder should insert the total number of Units held. If the Unitholder has Units entered against his/her name in the Depository Register maintained by The Central Depository (Pte) Limited (“CDP”), he/she should insert that number of Units. If the Unitholder has Units registered in his/her name in the Register of Unitholders of RHT, he/she should insert that number of Units. If the Unitholder has Units entered against his/her name in the said Depository Register and Units registered in his/her name in the Register of Unitholders, he/she should insert the aggregate number of Units entered against his/her name in the said Depository Register and registered in his/her name in the Register of Unitholders. If no number is inserted, this form of proxy appointing a proxy or proxies will be deemed to relate to all the Units held by the Unitholder."

In other words, we can just leave the "no of units" box BLANK right? that's the easiest way to ensure that ALL our votes end up being counted.

i asked because i wasn't sure exactly how many votes i can exercise in this voting process, because some are held by CDP, and some are held under SRS. So i will just leave it blank

 

[FuNKySoULyBrO]

Done my job by voting Nein and dropping the form at their service coy in SLA Tower just now. Not alot, only 5k shares, but hope it will help abit.

 

[BlackIcE84]

Done my job by voting Nein and dropping the form at their service coy in SLA Tower just now. Not alot, only 5k shares, but hope it will help abit.

what time did u drop it at? I wanted to go at lunch, but thought i'd call before going. i called at 1pm, rang and rang, but no one answered! i didnt go cos i didnt wanna risk an empty office at lunchtime

 

[Asphodeli]

what time did u drop it at? I wanted to go at lunch, but thought i'd call before going. i called at 1pm, rang and rang, but no one answered! i didnt go cos i didnt wanna risk an empty office at lunchtime

Use some common sense lah. Sure will have staggered lunch time one

 

[Lkpccl]

what time did u drop it at? I wanted to go at lunch, but thought i'd call before going. i called at 1pm, rang and rang, but no one answered! i didnt go cos i didnt wanna risk an empty office at lunchtime

I being there many times already, office hour will have staff there.
Dun put in envelope though, they will open on the spot, check the form before accepting.

 

[Minx99]

Done my job by voting Nein and dropping the form at their service coy in SLA Tower just now. Not alot, only 5k shares, but hope it will help abit.

I am glad to see unit holders are taking up the fight to defend their golden goose. At least i didn't waste my sunday morning banging away at the computer. I will be away on overseas assignment but i have already dropped my proxy form with a firm NO vote. I have only 31,000 shares, but I like to reiterate: a single red ant is vulnerable to bullying, a colony of determined red ants is formidable...

 

[ah_leetw]

for those who dont mind adding it to the list... let see how many we have here. lol

FuNKySoULyBrO - 5k
Minx99 - 31k
ahleetw - 45k

 

[BlackIcE84]

I being there many times already, office hour will have staff there.
Dun put in envelope though, they will open on the spot, check the form before accepting.

Thank you!

I have about 200k units in total, but 75k of which is in SRS. gonna have to try and see how i can exercise the voting rights for those in SRS

 

[rainbow123]

Drop mine off at the post office .
60k here .
Never read the thick booklet in detail ( going to use them for my chicken bones )
Hope our little ant colony can bring down the elephant