Page 96 - TreasuryChinaTrust2011

94
Notes to the Financial Statements
16 UNITS IN ISSUE
Trust
2011 2010
Number of
units
Number of
units
At 1 January 2011/19 May 2010 (date of constitution) 256,275,067 –
Issue of units:
– Acquisition of subsidiaries – 240,180,020
– Private placement – 16,095,047
– Unit options exercised (Note 17) 375,000 –
– Distribution reinvestment 265,650 –
Units acquired and cancelled (3,296,000) –
At 31 December 253,619,717 256,275,067
On 21 June 2010, the Trustee-Manager in its capacity as Trustee-Manager of the Trust issued an aggregate of
240,180,020 units representing undivided interests in the Trust to the shareholders of China Real Estate Opportunities
plc (“CREO”) for the acquisition of the entire issued and paid-up share capital of CREO, comprising 48,036,004 shares
in CREO. CREO was previously listed on Alternative Investment Market of the London Stock Exchange (AIM). The
Trust was constituted in Singapore on 19 May 2010. Subsequently, the above mentioned acquisition of CREO by the
Trust in connection with the listing of the Trust on the mainboard of the SGX-ST was completed on 21 June 2010 by
way of an introduction.
As the shareholders of CREO prior to the delisting of CREO on AIM became the Unitholders of the Trust following the
listing of the Trust on SGX-ST, the acquisition of CREO was accounted for in a manner similar to the pooling-of-interests
method. Accordingly, the assets and liabilities of CREO and its subsidiaries were included in the consolidated financial
statements of the Trust at their historical carrying amounts. The cost of investment in subsidiaries recorded in the
Trust’s Statement of Financial Position is based on the acquired net asset value of CREO and its subsidiaries at the
date of the acquisition on 21 June 2010. The net assets of subsidiaries acquired on this date were:
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