[PAVREIT] Others on 06-Aug-2014

Announcement Date 06-Aug-2014

Listing Date 07-Aug-2014
New type/class? No
Type Others
Details The issuance of 2,012,190 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 1st half of financial year ending 31 December 2014. The total management fee payable to the Manager for the 1st half of financial year ending 31 December 2014 amounted to RM10,601,026.37, whereby approximately RM2,650,256.59 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 17 July 2014 (being the date of announcement of Pavilion REIT's latest quarterly report) of RM1.317100 (adjusted for the RM0.03840 cash distribution by Pavilion REIT for which the entitlement date is on 6 August 2014), the number of units to be issued to the Manager is 2,012,190 units.
No. of shares issued 2,012,190
Issue Price MYR  1.317
Par Value MYR  0.000
Total NOSH 3,013,819,546

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