KEPPEL LTD. Keppel Corporation Limited (the "Company") wishes to announce that its subsidiary, Keppel REIT Management Limited ("KRML"), has acquired 10,397,509 units in Keppel REIT ("Management Fee Units"). These Management Fee Units were issued to KRML as payment by Keppel REIT of 100% of the base fee component of its management fee due to KRML (as the manager of Keppel REIT) for the period from 1 January 2016 to 31 March 2016.
The Management Fee Units were issued at a price of S$0.9929 per unit which was arrived at based on the volume weighted average price for a unit in Keppel REIT for all trades done on the Singapore Exchange Securities Trading Limited in the ordinary course of trading for the period of ten business days immediately preceding 31 March 2016, being the last business day for the period.
This mode of payment of the management fee in the form of units in Keppel REIT is in accordance with the provisions of the trust deed dated 28 November 2005 (as amended from time to time) constituting Keppel REIT.
With this transaction, the Company's interest in Keppel REIT has increased from approximately 45.953%* (comprising 1,489,038,448 units) to 46.126%** (comprising 1,499,435,957 units).
The above transaction is not expected to have any significant impact on the earnings per share and net tangible asset per share of the Company for the current financial year.
29 April 2016
Note:
* The percentage is calculated based on the total number of issued units in Keppel REIT of 3,240,361,853 units as at 26 February 2016.
** The percentage is calculated based on the total number of issued units in Keppel REIT of 3,250,759,362 units as at 29 April 2016.
Keppel Corporation Ltd. issued this content on 29 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 May 2016 02:23:01 UTC. Original document available at http://www.kepcorp.com/en/download.ashx?id=10116 |
