Step 2: For assistance, please contact us via digitalcorereit@boardroomlimited.com or call (65) 6230 9682 during office hours from Monday to Friday, excluding public holidays.
Step 3: Mail forms to Unit Registrar before the time stipulated by Unit Registrar.
Unit Registrar
Boardroom Corporate & Advisory Services Pte. Ltd.
1 Harbourfront Avenue
Keppel Bay Tower, #14-03/07
Singapore 098632
Unitholders who do not submit the required US IRS tax forms will be subject to US withholding tax on distributions payment when due to them and may not receive the full amount of their entitlement to distributions.
Restriction on Ownership of Units
Unitholders of Digital Core REIT and all other persons are prohibited from directly or indirectly owning in excess of 9.8% of the outstanding Units, subject to any increase or waiver pursuant to the terms of the Trust Deed and on the recommendation of the Manager. This prohibition is intended to preserve the US REIT status of the Parent US REIT and facilitate the availability of the Portfolio Interest Exemption.
The Trust Deed provides that Units held directly or indirectly by any person in excess of the Unit Ownership Limit will be automatically forfeited and held by the Trustee (“Automatic Forfeiture”). While forfeited Units are held by the Trustee, all rights attributable to those Units, such as the right to vote and the right to receive distributions, will be held by the Trustee; the Unitholder from whom the Units are forfeited shall have no right to vote or receive distributions arising from such Units.
The Trustee (on the recommendation of the Manager) will have the right and power to dispose of Units subject to Automatic Forfeiture, and upon such disposal, the Unitholder from whom the Units are forfeited will receive the proceeds (net of any commissions and expenses) from the disposition, but not in excess of (a) the price paid by such Unitholder for the forfeited Units or (b) if such Unitholder did not give value for the forfeited Units in connection with the event causing the Units to be forfeited (e.g., in the case of a gift, a non-pro rata Unit buy-back, a non-pro rata Unit consolidation or other corporate action where no acquisition or transfer of Units by a Unitholder takes place but has the result of increasing a Unitholder’s proportionate unitholdings), the market price of the Units on the day of the event causing the Automatic Forfeiture, in each case less certain distributions received by the Unitholder; any excess shall be donated by the Trustee to a charitable, philanthropic or benevolent organisation or purpose nominated by the Manager. If, prior to the discovery by the Trustee that Units are subject to Automatic Forfeiture, such Units are sold by the Unitholder, then such Units shall be deemed to have been sold on behalf of the Trustee and to the extent that such Unitholder received an amount in excess of the amount which it would otherwise have been entitled to, such excess shall be paid to the Trustee upon demand to be donated to a charitable, philanthropic or benevolent organisation or purpose nominated by the Manager.
For the avoidance of doubt, the Automatic Forfeiture is effective automatically, whether or not the Trustee or the Manager is aware of the change in ownership or aware of the fact that the Unit Ownership Limit has been breached and without any requirement for notice by the Trustee or the Manager. Unitholders are advised to manage their interests in the Units so as not to breach the Unit Ownership Limit and trigger the Automatic Forfeiture.
Currency Election
Distributions will be declared in US dollars. Each Unitholder will receive his distribution in Singapore dollars equivalent of the US dollar distribution declared, unless he elects to receive the relevant distribution in US dollars by submitting a Currency Election Form by the relevant cut-off date and opt out of CDP’s Currency Conversion Service at least 3 business days before the distribution payment date.
CDP launched the Currency Conversion Service on 15 June 2020. This new service will enable CDP direct account holders with Direct Crediting Service (DCS) to have their foreign currency cash distribution converted into Singapore Dollar and directly credited into their DCS bank accounts. If you are a CDP Securities Account holder with DCS, and wish to receive your distributions in USD, please be reminded to opt-out of Currency Conversion Service. For more information, please visit https://www.sgx.com/securities/retail-investor/cdp-faqs and contact Central Depository at (65) 6535 7511 or asksgx@sgx.com.
Save for approved depository agents (acting as nominees of their customers), each Unitholder may elect to receive his entire distribution in Singapore dollars or US dollars and shall not be able to elect to receive distributions in a combination of Singapore dollars and US dollars.
Contact Information
Unitholders who have any questions or require assistance in completing the required forms can call (65) 6230 9682 during office hours from Monday to Friday, excluding public holidays. Alternatively, email your questions to digitalcorereit@boardroomlimited.com.