Page 97 - TreasuryChinaTrust2011

95
16 UNITS IN ISSUE (CONTINUED)
Recognised
value on
acquisition
$’000
Investment properties 1,940,710
Plant and equipment 1,475
Available-for-sale financial assets 16,674
Derivative financial assets 131
Trade and other receivables 14,829
Restricted cash 50,316
Cash and cash equivalents 81,080
Interest-bearing borrowings (711,903)
Deferred tax liabilities (328,622)
Derivative financial liabilities (11,118)
Trade and other payables (76,698)
Net assets acquired 976,874
Consideration paid, satisfied by:
– issue of units of the Trust 961,154
– implementation of TCT Substitution Option Scheme 15,720
976,874
The Trustee-Manager entered into a placement agreement dated 9 December 2010 with a placement agent to launch a
private placement of 16,095,047 new units (“New Units”) at an issue price of $1.66 per new unit. The Trustee-Manager
issued the New Units on 23 December 2010 and raised equity capital of $26.7 million from this private placement.
Transaction costs of $1.1 million were incurred and capitalised as a deduction from the proceeds for the units issued.
The New Units, ranking pari passu in all respects with the Units in issue immediately prior to the issue of the New
Units, commenced trading on the mainboard of the SGX-ST on 23 December 2010. Unitholders of the New Units are
entitled to receive any distributions which may be paid for the current distribution period as well as all distributions
thereafter. The proceeds from the private placement were utilised to finance the acquisition of Huai Hai Mall and
Central Avenue Mall.
SAR1112034_TCT_AR_().indb 95 3/23/2012