Payment Of Performance Fee By Way Of Issue Of New Units In Ascendas India Trust
BackMay 27, 2010
Ascendas Property Fund Trustee Pte. Ltd. ("APFT"), as Trustee-Manager of Ascendas India Trust ("a-iTrust"), wishes to announce that 1,423,781 units in a-iTrust have been issued and credited to APFT on 27 May 2010. The units were issued to APFT pursuant to the Trust Deed dated 28 June 2007 ("Trust Deed"), in payment of 50% of the Performance Fee (as defined in the Trust Deed) for the period from 1 April 2009 to 31 March 2010. The balance of the Performance Fee of S$1,390,037 was paid in cash.
The number of units was determined based on an issue price of S$0.9763 per unit, which was the volume weighted average traded unit price for all the trades on the Singapore Exchange Securities Trading Limited in the ordinary course of trading for the last 10 trading days of the relevant period in which the Performance Fee accrues (as provided in the Trust Deed). The timing of the issue of the units to the Trustee-Manager is in accordance with the payment timing as defined in the Trust Deed, which is within 60 days of the last day of the financial year.
With the above-mentioned issue of units, APFT holds an aggregate of 13,076,556 units and the total number of units in issue as at 27 May 2010 is 763,886,918.