Lippo Malls Indonesia Retail (SG:D5IU) has released an update.
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Lippo Malls Indonesia Retail Trust has announced that it will not pay the scheduled June 2024 Distribution for the S$120,000,000 Perpetual Securities issued in 2017. The non-payment is in accordance with the terms of the securities, which state that the unpaid distribution is non-cumulative and does not accrue further distribution. This decision activates the dividend stopper provisions, preventing the company from declaring or paying dividends or making certain other payments until specific conditions are met.
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