OPH

OPH: announces that at an EGM yday, shareholders had voted in favor of the co’s proposed restructuring by approving, i) the injection of its 3 hospitality assets into a proposed Far East Hospitality Trust to be listed on SGX, and ii) acquisition of the hospitality mgt business and selected healthcare properties from Far East Organisation via an Asset Swap Transaction. As part of the transactions, shareholders also approved a Special Divided and a Dividend in Specie of OPH’s 14.5% stake in Yeo Hiap Seng. They also approved a name change of OPH to “Far East Orchard Ltd”, to better reflect the co’s close alignment with its substantial sh/h and leverage on the “Far East” brand.