NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 24. EARNINGS PER UNIT Basic earnings per Unit The calculation of basic earnings per Unit is based on weighted average number of Units during the year and total return for the year after taxation and non-controlling interest before distribution. Group 2023 2022 $’000 $’000 Total return for the year after taxation and non-controlling interest before distribution 40,826 122,993 Less: Total return attributable to perpetual securities holders (3,375) (3,375) Total return attributable to Unitholders 37,451 119,618 Trust Number of Units Number of Units 2023 2022 ’000 ’000 Issued Units at beginning of year 1,673,893 1,659,528 Effect of creation of new Units: – Distribution to Unitholders in respect of distribution reinvestment plan 1,118 625 – Manager’s management fees paid/payable in Units 8,548 10,087 Weighted average number of issued and issuable Units at end of the year 1,683,559 1,670,240 Diluted earnings per Unit Diluted earnings per Unit is calculated based on total return for the year after taxation and non-controlling interest and weighted average number of Units outstanding during the period, adjusted for the effects of all dilutive potential Units. Trust Number of Units Number of Units 2023 2022 ’000 ’000 Issued Units at beginning of year 1,673,893 1,659,528 Effect of creation of new Units: – Distribution to Unitholders in respect of distribution reinvestment plan 1,118 625 – Manager’s management fees paid/payable in Units 24,515 23,546 Weighted average number of issued and issuable Units at end of the year 1,699,526 1,683,699 25. RELATED PARTY TRANSACTIONS For the purposes of these financial statements, parties are considered to be related to the Group if the Group has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Group and the party are subject to common significant influence. Related parties are entities which are direct or indirect wholly owned subsidiaries of CLG. In the normal course of the operations of the Trust, the Manager’s management fees and the Trustee’s fees have been paid or are payable to the Manager and Trustee respectively. The property management fees, reimbursables and project management fees have been paid or are payable to the Property and Project Managers respectively. ANNUAL REPORT 2023 207 Financials Framework Portfolio Performance Leadership Overview
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