Asset Acquisitions and Disposals::Announcement by Quill Capita Trust: Completion of the Proposed Placement and Proposed Acquisition

Issuer & Securities

Announcement Title: Asset Acquisitions and Disposals
Date &Time of Broadcast: 30-Mar-2015 19:49:02
Status: New
Announcement Sub Title: Announcement by Quill Capita Trust: Completion of the Proposed Placement and Proposed Acquisition
Announcement Reference: SG150330OTHRY40R
Submitted By (Co./ Ind. Name): Doris Lai
Designation: Company Secretary, CapitaCommercial Trust Management Limited as manager of CapitaCommercial Trust
Description (Please provide a detailed description of the event in the box below): The announcement issued by Hong Leong Investment Bank Berhad, on behalf of Quill Capita Management Sdn Bhd, as manager of Quill Capita Trust (QCT), to the Bursa Malaysia Securities Berhad, is attached for information.

As a result of the transactions described in the announcement by QCT, including the issue of 271,250,000 new units in QCT, CapitaCommercial Trust (CCT) Group's equity interest in QCT is reduced from 30.0% to 17.7%. CCT Group's investment in QCT is reclassified from being an investment in associate to available-for-sale investment. This in turn results in the investment being marked-to-market, leading to an estimated loss to CCT Group's total return of S$18.9 million. This loss does not have any impact on CCT Group's distributable income or distribution per unit, but reduces its adjusted net asset value per unit by about 0.01 cents.

CCT is a substantial unitholder of QCT.

Total size =108K