ASCENDAS india trust ANNUAL REPORT 2014/15
Present and Ongoing Interested Person Transactions (Continued)
(iii)
Future Interested Person Transactions
Depending on the materiality of the transaction, the Trust may make a public announcement of such transaction or obtain
Unitholders’ prior approval for such a transaction. If necessary, the Board may make a written statement in accordance
with the resolution of the Board and signed by at least two directors on behalf of the Board certifying that, inter alia, such
interested person transaction is not detrimental to the interests of the Unitholders of the Trust as a whole, based on the
circumstances at the time of the transaction.
The Trustee-Manager may, in future, seek an annual general mandate from the Unitholders for recurrent transactions of
revenue or trading nature or those necessary for its day-to-day operations with interested persons, and all transactions
would then be conducted under such a general mandate for the relevant financial year. In seeking such an annual general
mandate, the Trustee-Manager may appoint an independent financial adviser to render an opinion as to whether the methods
or procedures for determining the transaction prices contemplated under the annual general mandate are sufficient, in an
effort to ensure that such transactions will be carried out on normal commercial terms and will not be prejudicial to the
interests of the Trust and the Unitholders.
When the Trust acquires assets from the Sponsor or parties related to the Sponsor in future, the Trustee-Manager will obtain
valuations from independent parties. In any event, interested person transactions entered into by the Trust, depending on
the materiality of such transactions, may be publicly announced or, as the case may be, approved by Unitholders, and will,
in addition, be:
• Reviewed and recommended by the Audit Committee of the Trustee-Manager, which comprises only independent
directors; and
• Decided by the Board, of which at least two-thirds of the directors are independent directors.
S t a t e m e n t o n P o l i c i e s a n d P r a c t i c e s
In Relation to the Management and Governance of the Trust Pursuant to Section 87 of the Business Trusts Act, Chapter 31A of Singapore
