Provision 11.4 of the Code requires an issuer’s Constitution to allow for absentia voting at general meetings. CLCT’s Trust Deed currently does not permit Unitholders to vote at general meetings in absentia (such as via mail or email). The Manager is of the view that although these aforementioned changes may still be considered a partial deviation from Provision 11.4 of the Code as Unitholders or their duly appointed proxy(ies) are still required to attend the general meeting virtually in order to avail themselves of real-time remote electronic voting, Unitholders nevertheless now have greater opportunities (in addition to the proxy regime) to communicate their views on matters affecting CLCT even when they are not physically in attendance at general meetings. The Manager will consider amendments to CLCT’s Trust Deed to permit absentia voting after it has carried out careful study and is satisfied that the integrity of information and the authentication of Unitholders’ identities will not be compromised, and after the implementation of legislative changes to recognise methods of voting without the need for Unitholders or their proxy(ies) to be present in-person or virtually. Unitholders can access the minutes of the general meetings on the Website. Accordingly, the rights of the Unitholders are consistent with the intent of Principle 11 of the Code. Distribution Policy CLCT’s distribution policy is to distribute at least 90.0% of its taxable income (other than gains from the sale of real estate properties by CLCT which are determined to be trading gains), with the actual level of distribution to be determined at the Manager’s discretion. Distributions are generally paid within 35 market days after the relevant record date. Timely Disclosure of Information The Manager is committed to keeping all Unitholders and other stakeholders, including analysts and the media informed of CLCT’s performance and any changes in the CLCT Group or its business which is likely to materially affect the price or value of the Units, by posting announcements and news releases on SGXNet and the Website in compliance with regulatory reporting requirements, on a timely and consistent basis. In FY 2024, the Manager provided Unitholders with half year and full year financial statements within the relevant periods under the Listing Manual. Such financial statements were reviewed and approved by the Board before being announced on SGXNet and accompanied by news releases. In presenting the financial statements to Unitholders, the Board sought to provide Unitholders with a balanced, clear and comprehensible assessment of CLCT and the CLCT Group’s performance, position and prospects. The Manager provides Unitholders, on a voluntary basis, with quarterly business updates between the announcement of half-yearly and full-year financial statements, which contain, information on the CLCT Group’s key operating and financial metrics. In addition, the Manager also keeps CLCT’s Unitholders, stakeholders and analysts informed of the performance and changes in the CLCT Group or its business which would likely materially affect the price or value of the Units. The Manager also conducts analysts’ and media briefings, and uploads the briefing materials used on SGXNet. The Manager has a formal policy on corporate disclosure controls and procedures to ensure that CLCT complies with its disclosure obligations under the Listing Manual. These controls and procedures incorporate the decisionmaking process and an obligation on internal reporting of the decisions made. Investor Relations The Manager has an Investor Relations department which facilitates effective communication with Unitholders and analysts. The Manager also has a corporate communications function supported by CLl’s Group Communications department which works closely with the media and oversees CLCT’s media communications efforts. The Manager maintains the Website which contains information on CLCT including its Prospectus, announcements and news releases, financial statements and investor presentations. The Manager actively engages with Unitholders to solicit and understand their views, and has a Unitholders’ Communication and Investor Relations Policy (IR Policy) to promote regular, effective and fair communications with Unitholders. The IR Policy, which sets out the mechanism through which Unitholders may contact the Manager with questions and through which the Manager may respond to such questions, is available on the Website. Managing Stakeholder Relationships The Board’s role includes considering sustainability as part of its strategy formulation. The Manager adopts an inclusive approach for CLCT by considering and balancing the needs and interests of material stakeholders. The Manager is committed to sustainability and incorporates the key principles of environmental and social responsibility, and corporate governance in CLCT’s business strategies and operations. The Manager has arrangements to identify, engage and manage relationships with material stakeholder groups from time to time, and gathers feedback on the sustainability issues most important to them. The Manager also updates the Website with current information on its sustainability approach and stakeholder engagements, to facilitate communication and engagement with CLCT’s stakeholders. 71 Annual Report 2024
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