CORPORATE GOVERNANCE Distribution Policy CLAS’ distribution policy is to distribute at least 90.0% of its taxable income (other than gains from the sale of real estate properties by CLAS which are determined to be trading gains), with the actual level of distribution to be determined at the Managers’ discretion. Distributions are generally paid within 35 market days after the relevant record date. Timely Disclosure of Information The Managers are committed to keeping all Stapled Securityholders, other stakeholders, analysts and the media informed of CLAS’ performance and any changes in CLAS or its business which are likely to materially affect the price or value of the Stapled Securities. For FY 2023, the Managers provided Stapled Securityholders with unaudited half year and full year financial statements within the relevant periods prescribed by the Listing Manual. These half year and full year financial statements were reviewed and approved by the Boards prior to release to Stapled Securityholders by announcement on SGXNet. The release of half year and full year financial statements were accompanied by news releases issued to the media and also made available on SGXNet. In presenting the half year and full year financial statements to Stapled Securityholders, the Boards sought to provide Stapled Securityholders with a balanced, clear and comprehensible assessment of CLAS and the Stapled Group’s performance, position and prospects. In addition to the announcement of half year and full year financial statements in FY 2023, in keeping with the Managers’ commitment to provide its Stapled Securityholders with information promptly, the Managers also provided Stapled Securityholders, on a voluntary basis, with quarterly business updates in between the announcement of half-yearly financial statements. Such business updates contain, among other things, information on CLAS’ key operating and financial metrics. In addition to the release of financial statements and business updates, the Managers also keep CLAS’ Stapled Securityholders, stakeholders and analysts informed of the performance and changes in CLAS or its business which would likely materially affect the price or value of the Stapled Securities on a timely and consistent basis, so as to assist Stapled Securityholders and investors in their investment decisions. This is performed through the release on SGXNet of announcements in compliance with regulatory reporting requirements and news releases for the media, on a timely and consistent basis. These announcements and news releases are also posted on the Website. In addition, the Managers also conduct analyst, investor and media briefings, and the materials used for such briefings are uploaded on SGXNet. The Managers have a formal policy on corporate disclosure controls and procedures to ensure that CLAS complies with its disclosure obligations under the Listing Manual. These controls and procedures incorporate the decision-making process and an obligation on internal reporting of the decisions made. The Managers believe in conducting the business of CLAS in ways that seek to deliver sustainable value to Stapled Securityholders. Best practices are promoted as a means to build an excellent business for CLAS and the Managers’ accountability to Stapled Securityholders for CLAS’ performance. Prompt fulfilment of statutory reporting requirements is but one way to maintain Stapled Securityholders’ confidence and trust in the capability and integrity of the Managers. Investor Relations The Managers have in place an Investor Relations department which facilitates effective communication with Stapled Securityholders and analysts. The Managers also maintain the Website which contains information on CLAS including but not limited to its prospectus, circulars, current and past announcements and news releases, financial statements, investor presentations and Annual Reports. The Managers actively engage with Stapled Securityholders with a view to solicit and understand their views, and have put in place an Investor Relations Policy which allows for an ongoing exchange of views so as to actively engage and promote regular, effective and fair communications with Stapled Securityholders. The Investor Relations Policy, which sets out the mechanism through which Stapled Securityholders may contact the Managers with questions and through which the Managers may respond to such questions, is available on the Website. Stapled Securityholders are welcome to engage with the Managers beyond general meetings and they may do so via phone calls or emails to the Investor Relations team, whose contact details may be found on the Website. 126 CAPITALAND ASCOTT TRUST
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