Notes to the financial statements
Year ended 31 March 2016
20 Units in issue and to be issued
Trust
2016
2015
(’000)
(’000)
Units issued:
At the beginning of the financial year
2,405,707
2,402,522
Issue of new units:
– Management fees paid in Units
3,410
3,185
– Acquisition fees paid in Units
6,650
–
– Divestment fees paid in Units
48
–
– Equity fund raising
155,294
–
– Consideration Units for acquisition of property
94,467
–
At the end of the financial year
2,665,576
2,405,707
Units to be issued:
Management fee payable in units
1,281
1,019
Acquisition fee payable in units
–
440
1,281
1,459
Total units issued and to be issued at the end of the financial year
2,666,857
2,407,166
During the year:
•
3,410,058 (2015: 3,184,914) new units amounting to $8,075,000 (2015: $7,424,000) were issued at issue prices
ranging from $2.3107 to $2.4318 (2015: $2.3229 to $2.3396) per unit, in respect of the payment of the base
management fee to the Manager in units.
•
6,650,105 (2015: Nil) new units amounting to $15,539,000 were issued at issue prices ranging from $2.2504 to
$2.6361 per unit as payment of acquisition fees to the Manager for acquisitions of The Kendall, the Australia
portfolio and ONE@Changi City.
•
48,431 (2015: Nil) new units amounting to $124,000 were issued at an issue price of $2.5603 per unit as payment
of divestment fees to the Manager for the divestment of 26 Senoko Way.
•
90,000,000 (2015: Nil) new units were issued on 18 December 2015 at an issue price of $2.2230 per unit pursuant
to a private placement, amounting to $200,070,000. Unitholders on the register with The Central Depository (Pte)
Limited (“CDP”) on 17 December 2015 received an advance distribution on 15 January 2016 of 3.060 cents per
unit for the period from 1 October 2015 to 17 December 2015. Thereafter, the 90,000,000 new units rank
pari
passu
in all respects with the units in issue prior to 18 December 2015, including the entitlements to all future
distributions.
•
65,293,948 (2015: Nil) new units were issued on 20 January 2016 at an issue price of $2.2180 per unit pursuant
to a 3-for-80 preferential offering, amounting to $144,822,000. These units rank
pari passu
in all respects with the
units in issue prior to 20 January 2016, including the entitlements to all future distributions.
•
94,466,936 (2015: Nil) new units amounting to $210,000,000 were issued on 1 March 2016, at an issue price of
$2.2230 per unit as partial consideration for the acquisition of ONE@Changi City. These units will not be entitled
to distributions for the period preceding the date of issue, and will only be entitled to distributions from the date
of their issue. Save as set out above, these units will rank
pari passu
in all respects with the units in issue on the
day immediately preceding the date of issue.
.189
A-REIT ANNUAL REPORT
2015/2016
