CDL Hospitlity Trusts - Annual Report 2016

CORPORATE GOVERNANCE

REPORTS

Internal Code on Dealings in Securities

The H-REIT Manager and the HBT Trustee-Manager have in place an internal code on

securities trading which sets out the implications of insider trading and provides guidance

and internal regulation with regard to dealings in the stapled securities of CDLHT by the

Directors and officers of both the Managers. These guidelines prohibit dealing in the

stapled securities of CDLHT (a) on short-term considerations, (b) while in possession of

unpublished material price-sensitive information in relation to such stapled securities,

and (c) during the “closed period”, which is defined as two weeks before the date

of announcement of results for each of the first, second and third quarter of H-REIT’s

and HBT’s financial year and one month before the date of announcement of the full-

year financial results, and ending on the date of the announcement of the relevant

results. The Directors and employees of the H-REIT Manager are notified of the

commencement of each “closed period” relating to dealing in the stapled securities of

CDL Hospitality Trusts.

STATEMENT OF POLICIES AND PRACTICES OF HBT

Apart from the corporate governance practices disclosed above, the HBT Trustee-Manager

has prepared a statement of policies and practices in relation to the management and

governance of HBT (as described in section 87(1) of the Business Trusts Act, Chapter

31A of Singapore) in respect of FY 2016, which is set out on pages 94 to 99 in this

Annual Report.

Annual Report 2016