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Keppel DC REIT has transferred 73,881 of its units worth a total of $99,451.21 to its manager as management fees, according to an SGX filing on Monday (30 July).
“The units were issued at $1.3461 each based on the volume weighted average price for a unit in Keppel DC REIT for all trades done in the ordinary course of trading for the last 10 business days for the period ended 30 June 2018.”
These units were given to its manager Keppel DC REIT Management (KDCRM), a unit of Keppel Corporation, as 100 percent of the base fee component of its management fee, given the trust’s 100 percent stake in Intellicentre 2 Data Centre in Australia from 1 April to 30 June, and its 99 percent stake in Keppel DC Singapore 5 from 13 to 30 June.
Consequently, KDCRM’s stake in Keppel DC REIT has risen from 29.271 percent to 29.275 percent, with the manager’s shareholding increasing from 395,546,763 to 395,620,644 units.
The transaction is not expected to have any substantial impact on Keppel Corporation’s earnings per share and net tangible asset per share for the current financial year.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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