Dealings with Interested Persons
Review Procedures for Interested Person Transactions
The Manager has established internal control procedures to ensure that all Interested Person
Transactions are undertaken on an arm’s length basis and on normal commercial terms, which are
generally no more favourable than those extended to unrelated third parties, and are not prejudicial
to the interests of Ascott Reit and Unitholders. In respect of such transactions, the Manager would
have to demonstrate to the AC that such transactions are undertaken on normal commercial terms
and are not prejudicial to the interests of Ascott Reit and Unitholders which may include obtaining
(where practicable) third party quotations or obtaining valuations from independent valuers (in
accordance with applicable provisions of the Listing Manual and the Property Funds Appendix). The
internal control procedures also ensure compliance with Chapter 9 of the Listing Manual and the
Property Funds Appendix.
In particular, the following procedures are in place:
Interested Person Transactions
1
Approving Authority, Procedures
and Disclosure
Transaction which:
(a) is below 3.0% of Ascott Reit’s latest audited net
tangible assets/net asset value; or
(b) when aggregated with other transactions with the
same Interested Person in the same financial year is
below 3.0% of Ascott Reit’s latest audited net tangible
assets/net asset value
• Regular periodic reviews by Audit
Committee
Transaction which:
(a) is equal to or exceeds 3.0% of Ascott Reit’s latest
audited net tangible assets/net asset value; or
(b) when aggregated with other transactions with the
same Interested Person in the same financial year is
equal to or exceeds 3.0% of Ascott Reit’s latest
audited net tangible assets/net asset value
• Audit Committee
• Immediate announcement
Transaction which:
(a) is equal to or exceeds 5.0% of Ascott Reit’s latest
audited net tangible assets/net asset value; or
(b) when aggregated with other transactions with the
same Interested Person in the same financial year is
equal to or exceeds 5.0% of Ascott Reit’s latest
audited net tangible assets/net asset value
• Audit Committee
• Immediate announcement
• Unitholders
Note
:
1 Excluding transactions less than S$100,000 each.
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