SEO Version
Interested Person Transactions
Interested person transactions
The transactions entered into with interested persons during the financial year, which fall under the Listing Manual and
the CIS Code, are as follows:
Name of Interested Persons
Aggregate value of all Interested person transactions
during the fnancial period under review (excluding
transactions of less than S$100,000 each)
S$’000
CapitaLand Limited and its subsidiaries or associates
– Management fees
1
7,876
– Property management fees & reimbursables
8,432
– Project management fee
555
– Interest costs
2
3,241
Temasek Holdings (Private) Limited & its associates
– Architecture fees
3
620
Trustee’s fees
287
1. For the purposes of Rule 907 of the Listing Manual, in arriving at this figure, the market price of the Units (being the closing price of the Units
traded on the SGX-ST on the relevant date of issue of the Units) issued to the Manager for the performance component of its management
fees, was used to determine the amount of the aggregate management fees paid to the Manager for the period from 1 January 2012 to 31
December 2012. A total of 2,871,878 Units amounting to an aggregate of S$3.9 million have been or will be issued to the Manager as payment
of the performance component of the management fees (as computed pursuant to the Trust Deed) for the period from 1 January 2012 to 31
December 2012. In respect of the period from 1 January 2012 to 31 March 2012, a total of 824,734 Units, at the issue price of S$1.2324* per
Unit were issued on 5 June 2012 to the Manager. The market price at the date of issue was S$1.245 per Unit and the aggregate market value
of these Units was S$1,026,794 based on this market price. In respect of the period from 1 April 2012 to 30 June 2012, a total of 761,683 Units,
at the issue price of S$1.3089* per Unit were issued on 28 September 2012 to the Manager. The market price at the issue price of S$1.465 per
Unit and the aggregate market value of these Units was S$1,115,866 based on this market price. In respect of the period from 1 July 2012 to
30 September 2012, a total of 690,534 Units, at the issue prices of S$1.4581* per Unit were issued on 27 November 2012 to the Manager. The
market price at the date of issue was S$1.535 per Unit and the aggregate market value of these Units was S$1,059,970 based on this market
price. In respect of the period from 1 October 2012 to 31 December 2012, a total of 594,927 Units, at the issue price of S$1.6251* per Unit, will
be issued in first quarter of 2013 to the Manager.
* Based on the volume weighted average traded price for a unit for all trades done on SGX-ST in the ordinary course of trading on the SGX-ST for the last
10 business days of the relevant period in which the management fee accrues.
2. Interest costs relating to a bank loan facility undertaken by a non-wholly owned subsidiary which was fully secured by a cash deposit of an
associate of CapitaLand Limited.
3. Appointment of Surbana International Consultants Pte Ltd as the architect.
Saved as disclosed above, there were no additional Interested Person Transactions (excluding transactions of less than
S$100,000 each) entered into during the financial period under review.
The fees and charges payable by CRCT to the Manager under the Trust Deed, and to the Property Managers under the
Property Management Agreements (collectively, the “Exempted Agreements”), each of which constitutes a Interested
Person Transaction, are deemed to have been specifically approved by the Unitholder upon purchase of the Units and
are therefore not subject to Rules 905 and 906 of the Listing Manual to the extent that there is no subsequent change to
the rates and/or bases of the fees charged thereunder which will affect CRCT. However, the renewal of such agreements
will be subject to Rules 905 and 906 of the Listing Manual.
Please also see Related Party Transactions on note 22 in the financial statements.
Subscription of CRCT Units
An aggregate of 3,079,738 Units were issued in relation to the performance component of the Manager’s management
fee paid during the period. As at 31 December 2012, 749,504,576 Units were in issue and outstanding. In the first
quarter of 2013, 594,927 Units will be issued to the Manager as part payment of the performance component of its
management fee for the fourth quarter of 2012.
Strengthening Fundamentals, Building a Sustainable Future
134
Powered by FlippingBook Publisher