CCT – SGX
CAPITACOMMERCIAL TRUST SUBSCRIBES FOR UNITS IN QUILL CAPITA TRUST
CapitaCommercial Trust Management Limited (the “Manager”), the manager of CapitaCommercial Trust (“CCT”), wishes to announce that CCT has entered into a
subscription agreement today to subscribe for 45,432,000 units (the “Subscription Units”) in Quill Capita Trust (“QCT”).
The subscription for the Subscription Units is pursuant to an equity fund raising exercise by QCT to raise required funds to partially finance the purchase consideration for QCT’s acquisition of Wisma Technip and a part of Plaza Mont’Kiara both located in Kuala Lumpur, Malaysia.
The Subscription Units will allow CCT to maintain its proportionate unitholding in QCT, in percentage terms, at its pre-placement level. CCT has held 30% of QCT’s total units in issue since January 2007.
As required under the Malaysia Securities Commission Guidelines, units placed with
interested persons or persons connected to them must be priced at least at the weighted average market price of the units for the five market days immediately prior to the price-fixing date. Accordingly, the issue price of the Subscription Units has been fixed at RM1.52 which is the five-day volume weighted average market price of QCT units immediately prior to the price-fixing date of 15 August 2007. Hence, the total consideration for the Subscription Units is RM69,056,640 (approximately S$30.3 million)1.
1 Based on exchange rate of S$1 : RM2.27726