STAPLED STRUCTURE
OF CDLHT
OVERVIEW AND FINANCIAL REVIEW
(1)
Holdings of Stapled Securities as at 3 March 2016.
(2)
CDLHT comprises stapled units of H-REIT and HBT ("
Stapled Securities
") with each Stapled Security consisting of a unit in H-REIT and a unit
in HBT.
(3)
For simplicity, the diagram does not include the relationships in relation to Claymore Connect. The H-REIT Manager asset-manages
Claymore Connect and the various tenants of the retail units at Claymore Connect make rental payments to H-REIT under the terms of their
respective leases.
STAPLED STRUCTURE
CDLHT is a stapled group comprising H-REIT, a real estate investment trust, and HBT, a business trust. CDLHT currently owns
18 properties across six countries.
M&C
(SPONSOR)
≈36.4%
(1)
OTHER
INVESTORS
≈63.6%
(1)
DBS Trustee
Limited
(H-REIT
Trustee)
M&C REIT
Management
Limited
(H-REIT
Manager)
H-REIT
(3)
(owner and lessor)
HBT
(owner or lessee)
M&C
Business Trust
Management
Limited
(HBT Trustee-
Manager)
Master
Lessees
Hotel
Managers
Hotel
Managers
Acts on behalf
of the holders of
H-REIT Units
Stapling
Deed
Rent
Holdings of CDLHT Stapled Securities
(2)
Lease of
Hotels
Provides
management
services
Acts on
behalf
of the holders
of the HBT
Units
Provides
management
services
Lease of
Hotels
Rent
Provides hotel
management
services
Provides hotel
management services
CDLHT
Distributions
Distributions
4
