133
ANNUAL REPORT 2014
11 UNITS/STAPLED SECURITIES IN ISSUE
HBT Group
H-REIT Group
Stapled Group
2014
2013
2014
2013
2014
2013
’000
’000
’000
’000
’000
’000
Units/Stapled Securities in issue:
At 1 January
974,141
968,739
974,141
968,739
974,141 968,739
Creation of Units/Stapled
Securities:
- H-REIT Manager’s
management fee
paid in Stapled Securities
6,144
5,402
6,144
5,402
6,144
5,402
At 31 December
980,285
974,141
980,285
974,141
980,285 974,141
Issued and issuable Units/
Stapled Securities:
Units/Stapled Securities in issue 980,285
974,141
980,285
974,141
980,285 974,141
H-REIT Manager’s
management fees payable
in Stapled Securities
1,579
1,628
1,579
1,628
1,579
1,628
H-REIT Manager’s acquisition fees
payable in Stapled Securities
368
–
368
–
368
–
Units/Stapled Securities to
be issued
1,947
1,628
1,947
1,628
1,947
1,628
982,232
975,769
982,232
975,769
982,232 975,769
During the year, the following Stapled Securities were issued:
• 6,143,718 (2013: 5,402,605) Stapled Securities were issued at unit prices ranging from $1.6248 to $1.7323
(2013: $1.6285 to $2.0561) per Stapled Security, amounting to $10,125,657 (2013: $9,821,211) as satisfaction of
management fees paid in Stapled Securities.
Each H-REIT unit is stapled together with a HBT unit under the terms of a stapling deed dated 12 June 2006
entered into between the H-REIT Manager, the H-REIT Trustee and the HBT Trustee-Manager and cannot be
traded separately. Each Stapled Security represents an undivided interest in H-REIT and HBT.
A holder of the Stapled Security has no equitable or proprietary interest in the underlying assets of the Stapled
Group 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 the Stapled Group.
The liability of a holder of the Stapled Securities is limited to the amount paid or payable for the Stapled Securities.
Each HBT unit and H-REIT unit carry the same voting rights.
NOTES TO THE FINANCIAL STATEMENTS
