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STAPLED STRUCTURE OF CDLHT
OVERVIEW AND FINANCIAL REVIEW
(1)
Holdings of Stapled Securities as at 3 March 2017.
(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)
≈36.7%
(1)
OTHER
INVESTORS
≈63.3%
(1)
DBS Trustee
Limited
(H-REIT Trustee)
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
H-REIT
(3)
(owner and lessor)
HBT
(owner or lessee)
M&C REIT
Management
Limited
(H-REIT Manager)
M&C
Business Trust
Management
Limited
(HBT Trustee-
Manager)
Hotel
Managers
Master
Lessees
Hotel
Managers
4