[PAVREIT] Others on 05-Feb-2014
Announcement Date
05-Feb-2014
Listing Date
06-Feb-2014
New Type/Class?
No
Type
Others
Details
The issuance of 2,123,147 units is pursuant to the part payment of management fees in units to Pavilion REIT Management Sdn Bhd, the Manager of Pavilion Real Estate Investment Trust, for the 2nd half of financial year ended 31 December 2013. The total management fee payable to the Manager for the 2nd half of financial year ended 31 December 2013 amounted to RM10,750,769.52, whereby approximately RM2,687,692.38 will be satisfied via the issuance of new units to the Manager. Based on the 5-day volume weighted average price of the units up to but excluding 16 January 2014 (being the date of announcement of Pavilion REIT's latest quarterly report) of RM1.26590 (adjusted for the RM0.03710 cash distribution by Pavilion REIT for which the entitlement date is on 4 February 2014), the number of units to be issued to the Manager is 2,123,147 units.
No. of shared issued
2,123,147
Issue Price
MYR 1.266
Par Value
MYR 0.000
Total NOSH
3,011,807,346
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