22 Jun 2017 18:33:00
Supplemental to the Lease and Sublease Agreement of Quality Houses Hotel and Residence Freehold and Leasehold Property Fund ("QHHR")
Land and Houses Fund Management Co.,Ltd. as the management company of Quality Houses Hotel and Residence Freehold and Leasehold Property Fund ("QHHR") has signed the Lease and Sublease Agreement (as specified below) with Centre Point Hospitality Co.,Ltd ("Lessee") (Centre Point Hotel and Residence Project) dated 19 July 2012 and then made a memorandum of understanding to extend the lease period to the Lease and Sublease Agreement dated 18 July 2015 ("Lease and Sublease Agreement"). Per a royal decree issued under the Thai revenue code, property funds have received privileges which are VAT exemption (issue 608, 2016), specification of businesses that can exempt from specific businesses tax (issue 607,2016) and revenue code exemption (issue 610, 2016). However, per Royal Thai Government Gazette volume 133 parts 46 Kor stated on 24 May 2016, there would be no further exemption of VAT exemption, revenue code and revenue stamp for property funds. This would become effective one year after since declaration date in Royal Thai Government Gazette. Therefore, QHHR need to add an additional memorandum of understanding as a supplemental document to Lease and Sublease Agreement to specified proportion of movable and immovable assets as stated therein to be compliance with the law as required ("MOU"). QHHR would like to inform unitholder the rationale of the additional memorandum of understanding as the supplemental document to the Lease and Sublease Agreement (Centre Point Hotel and Residence Project) and would like to further inform that such MOU would not create any impact to the benefit of unit holders. Please kindly be informed accordingly ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.