The fees and charges payable by CLCT 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 an 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 CLCT. 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 25 in the financial statements. SUBSCRIPTION OF CLCT UNITS An aggregate of 13,495,621 Units were issued during the year as part payment of the base and performance component of the Manager’s management fee for the financial year 2022. As at 31 December 2023, 1,704,872,600 Units were in issue and outstanding. 16,010,4851 Units will be issued to the Manager as part payment of the base and performance component of its management fee for the financial year 2023. 1 Based on the volume weighted average price per Unit for all trades on the SGX-ST in the ordinary course of trading for the period of 10 business days immediately preceding the financial year 2023. ADDITIONAL DISCLOSURE FOR OPERATING EXPENSES According to disclosure requirements under paragraph 11.1 item (l) of the Appendix 6 to Code on Collective Investment Scheme, the total operating expenses incurred by CLCT Group in FY 2023 was S$143.5 million. The amount included all fees and charges paid to the Manager and interested parties. This translates to 5.9% of the CLCT Group’s net asset value as at 31 December 2023. ADDITIONAL INFORMATION ANNUAL REPORT 2023 225 Financials Framework Portfolio Performance Leadership Overview
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