Eagle Hospitality Trust Sponsor Expresses Doubt Over SC Capital’s Proposal

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SINGAPORE – Media OutReach
– 22 December 2020 – With regard to the selection of SC Capital as the
replacement manager of Eagle Hospitality REIT (EH-REIT), Urban Commons,
the Sponsor of Eagle Hospitality Trust (EHT), believes that SC Capital’s
current proposal will very likely provoke disagreements amongst various interested
parties. This could initiate a chain of reactions and is highly risky for
securityholders.

 

Sponsor has provided recommendations and DBS
Trustee ignored their proposals to save the REIT. A substantial
amount of EHT’s cash, approximately $25 million, has been spent on professional
consultants who are, surprisingly, not collaborating with the Sponsor to find a
way forward for the benefit of securityholders. The Sponsor believes that all
interested parties should work together to resolve issues for the good of all
securityholders.

 

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Urban
Commons has the intention to restructure the current REIT manager, to
strengthen management status and cash position. Sponsor to propose a new
partner to the manager, which is subject to MAS approval.

 

“We hope that DBS Trustee will make the right decisions to protect
the interests of all securityholders. On the other hand, we are working hard to
engineer the best deal possible for
securityholders,
by considering a variety of different options for the REIT. This includes a
whole spectrum of possibilities, such as the possible entry of a white knight, as
well as the potential refinancing or a unique recapitalization plan that suits
this unique scenario,”
said Howard Wu, Founder and Principal at UC. “While
securityholders may feel they are left with few choices, we believe that
presenting additional options at our proposed EGM will help them see the
potential for their REIT, as well as our continued commitment to help weather
the storm.”

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The issuer is solely responsible for the content of this announcement.

About Urban Commons

Urban Commons is a
Los Angeles-based real estate investment and development firm with a successful
track record of developing, repositioning, and rebranding assets throughout the
United States. The company focuses on improving under-managed and underutilized
assets by developing innovative solutions that promote optimal economic,
social, and environmental returns.

 

Since its founding
in 2008, Urban Commons has owned, operated and developed a variety of real
estate properties including several dozen hotels, apartments, retail, office,
and senior care, throughout the United States including the development of
nearly one million square feet of commercial retail space.

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For more
information on Urban Commons, please visit: https://urban-commons.com/

Eagle Hospitality Trust Sponsor Expresses Doubt Over SC Capital’s Proposal

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The Trade Desk Appoints Benson Ho as Senior Vice President, North Asia

SHANGHAI, CHINA - Media OutReach - 22 January 2021 - Global advertising technology leader, The Trade Desk, today announced the appointment of Benson Ho as Senior Vice President of North Asia. In this role, Ho will lead the company's business and growth strategy in the North Asia region, covering Greater China, South Korea and Japan. Ho will report to Tim Sims, Chief Revenue Officer.

 

 Eagle Hospitality Trust Sponsor Expresses Doubt Over SC Capital’s Proposal - Brand Spur

 

Ho brings vast leadership experience in the Asian media industry, most recently as Chief Data Strategy Officer at Tencent Marketing Solution, an important early inventory partner of The Trade Desk in China. Prior to that, he served as Amnet's chief consultant and programmatic expert to Dentsu Aegis Network. He has also served in senior leadership positions at Sizmek, GroupM and Digitas.

 

"One of The Trade Desk's biggest priorities is Asia, and with Benson joining our team, we're confident he will help accelerate our growth strategy in the region," said Tim Sims, Chief Revenue Officer, The Trade Desk. "Benson brings experience and expertise of data-driven advertising, as well as his invaluable relationships with key partners and advertisers, that are specific and unique to the Asian market. I look forward to partnering with Benson as we execute our next phase of growth in the region."

 

"I am delighted to join The Trade Desk and build on the success the company has had in North Asia," said Ho. "The advertising industry is at a turning point right now, and there's enormous opportunity for brands to leverage global best practices and connect with consumers in new ways. It's very exciting to be a part of the team that's delivering a unique solution and expertise to global advertisers in the region."


About The Trade Desk

The Trade Desk™ is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, Eagle Hospitality Trust Sponsor Expresses Doubt Over SC Capital’s Proposal - Brand SpurTwitter, and LinkedIn. 

 

Eagle Hospitality Trust Sponsor Expresses Doubt Over SC Capital’s Proposal - Brand Spur

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