Page 98 - TreasuryChinaTrust2011

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Notes to the Financial Statements
16 UNITS IN ISSUE (CONTINUED)
Each Unit in the Trust represents an undivided interest in the Trust. The rights and interests of Unitholders are contained
in the Trust Deed and include the right to:–
• receive income and other distributions attributable to the Units held;
• participate in the termination of the Trust by receiving a share of all net cash proceeds derived from the
realisation of the assets of the Trust less any liabilities, in accordance with their proportionate interests in the
Trust. However, a Unitholder has no equitable or proprietary interest in the underlying assets of the Trust and
is not entitled to the transfer to it of any assets (or part thereof) or of any estate or interest in any asset (or part
thereof) of the Trust; and
• attend all Unitholders’ meetings. The Trustee-Manager may (and the Trustee-Manager shall at the request in
writing of not less than 50 Unitholders or one-tenth in number of the Unitholders, whichever is lesser), at any
time, convene a meeting of Unitholders in accordance with the provisions of the Trust Deed.
The restrictions of a Unitholder include the following:
• a Unitholder’s right is limited to the right to require due administration of the Trust in accordance with the
provisions of the Trust Deed; and
• a Unitholder has no right to request the Trustee-Manager to redeem his Units while the Units are listed on SGX-
ST.
A Unitholder’s liability is limited to the amount paid or payable for any Units in the Trust. The provisions of the Trust
Deed provide that no Unitholders will be personally liable for indemnifying the Trustee-Manager or any creditor of the
Trustee-Manager in the event that liabilities of the Trust (excluding net assets attributable to Unitholders) exceed its
assets. Under the Trust Deed, every Unit carries the same voting rights.
Since the second quarter of 2011, the Trust launched a unit buy-back program to acquire its own units as part of its
ongoing proactive management strategy to provide a strong platform for stable growth to its unitholders. There were
3,296,000 units acquired and cancelled under the unit buy-back programme.
During the year, the Group issued 265,650 units pursuant to the Distribution Reinvestment Plan.
SAR1112034_TCT_AR_().indb 96 3/23/2012