EXPLANATORY NOTES:
Ordinary Resolution 3
Ordinary Resolution 3, if passed, will empower the Manager to issue Units, to make or grant
Instruments and to issue Units in pursuance of such Instruments from the date of the AGM until (i) the
conclusion of the next annual general meeting of Ascott Reit or (ii) the date by which the next annual
general meeting of Ascott Reit is required by applicable laws and regulations or the Trust Deed to be
held, whichever is the earlier, unless such authority is earlier revoked or varied by Unitholders in a
general meeting. The aggregate number of Units which the Manager may issue (including Units to
be issued pursuant to Instruments) under this Resolution must not exceed fifty per cent. (50.0%) of
the total number of issued Units with a sub-limit of twenty per cent. (20.0%) for issues other than on
a pro rata basis to Unitholders.
For the purpose of determining the aggregate number of Units that may be issued, the total number
of issued Units will be based on the total number of issued Units at the time Ordinary Resolution 3
above is passed, after adjusting for (i) new Units arising from the conversion or exercise of any
convertible securities or options which are outstanding or subsisting at the time this Resolution is
passed and (ii) any subsequent bonus issue, consolidation or subdivision of Units.
Fund raising by issuance of new Units may be required in instances of property acquisitions or debt
repayments. In any event, if the approval of Unitholders is required under the Listing Manual of the
SGX-ST and the Trust Deed or any applicable laws and regulations, in such instances, the Manager
will then obtain the approval of Unitholders accordingly.
Notice of
Annual General Meeting
212 | Ascott Residence Trust Annual Report 2014
