FRASERS HOSPITALITY TRUST ANNUAL REPORT 2015
175
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 20 JUNE 2014 (DATE OF CONSTITUTION) TO 30 SEPTEMBER 2015
19.
STAPLED SECURITIES IN ISSUE
Number
of Stapled
Securities
FHT
Number
of Stapled
Securities
FH-REIT
Group Number
of Stapled
Securities
FH-BT
30 Sep
2015
30 Sep
2015
30 Sep
2015
’000 $’000
’000 $’000
’000 $’000
At 20 Jun 2014 (Date of constitution)
–
–
–
–
–
–
Issuance of Stapled Securities
Initial Public Offering
1,192,628 1,049,513 1,192,618 1,049,503
10
10
Private Placement
150,000 123,000 150,000 123,000
–
–
REIT Management fees paid in
Stapled Securities
6,226 5,544 6,226 5,544
–
–
Other management fees paid in
Stapled Securities
1,029
917 1,029
917
–
–
Property management fees paid in
Stapled Securities
4,711
4,185 4,711
4,185
–
–
Distribution reinvestment plan
1,365 1,216 1,365 1,216
–
–
Acquisition fee paid in Stapled
Securities
1,420 1,164 1,420 1,164
–
–
At 30 Sep 2015
1,357,379 1,185,539 1,357,369 1,185,529
10
10
Stapled Securities to be issued
REIT Management fees payable in
Stapled Securities
5,245 4,016 5,245 4,016
–
–
Other management fees payable in
Stapled Securities
1,273
957
1,273
957
–
–
Property management fees payable
in Stapled Securities
4,129 3,244 4,129 3,244
–
–
Total issued and issuable Stapled
Securities
1,368,026 1,193,756 1,368,016 1,193,746
10
10
Each unit of FH-REIT is stapled together with a unit of FH-BT under the terms of the Stapling Deed dated 20
June 2014 entered into between the REIT Manager, the REIT Trustee and the Trustee-Manager and cannot be
traded separately. Each Stapled Security represents an undivided interest in FH-REIT and FH-BT.
A holder of the Stapled Securities has no equitable or proprietary interest in the underlying assets of FHT and is
not entitled to the transfer to it of any asset (or any part thereof) or of any real estate, any interest in any asset
and real estate-related assets (or any part thereof) of FHT.
Under the FH-REIT Trust Deed, every FH-REIT Stapled Security carries the same voting rights. Similarly, under
the FH-BT Trust Deed, every FH-BT Stapled Security carries the same voting rights. Each Stapled Security carries
one vote.
The holders of the Stapled Securities are entitled to receive distributions as and when declared by FHT.
All issued Stapled Securities are fully paid.
Initial Public Offering
FHT had at listing date issued 1,192,628,000 units of Stapled Securities at SGD 0.88 each. These proceeds were
mainly used for the acquisition of properties and subsidiaries of purchase consideration SGD 1,049,513,000.
Private Placement
During the financial period, there was a Private Placement of 150 million units of new Stapled Securities at
SGD 0.82 per new Stapled Security (the “Private Placement”). These proceeds weremainly used for the acquisition
of Sofitel Sydney Wentworth. 1,419,941 new Stapled Securities were issued to the MIT Manager as settlement of
the acquisition fee for the acquisition of Sofitel Sydney Wentworth.
