LANGHAM-SS(01270): The hotel management has chosen to receive all management fees for the year ending 31 December 2026 in cash.
Langting-SS (01270) announced that the trustee-manager and the Board of Directors of the Company have disclosed that, in accordance with the hotel management agreement and the trademark license agreement, the hotel manager (a wholly-owned subsidiary of Eagle Monarch) has elected to receive all management fees for the year ending December 31, 2026 in cash.
LANGHAM-SS (01270) has announced that the trustee-manager and the board of directors have disclosed that, in accordance with the hotel management agreement and trademark license agreement, the hotel manager (a wholly-owned subsidiary of GREAT EAGLE H) has chosen to receive the manager's fees for the year ending December 31, 2026, in full in cash.
Considering the challenges in the current market environment and with the goal of maintaining cash flow and strengthening the financial position of the trust group, the trust group has made a request, and both the main lessee and the hotel manager have agreed, to change the payment method of the manager's fees for the six-month period ending December 31, 2025, from cash to issuance of shares or units. This change is made in accordance with the terms and conditions of the hotel management agreement and trademark license agreement.
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