SEO Version
SABANA
90
Proft rate swaps
Derivative liabilities as a percentage of net assets
The Group uses proft rate swaps to manage its exposure to proft rate movements on its foating rate
Commodity Murabaha Facilities by swapping the proft-rate expense on term loans from foating rates to f
Proft rate swaps with a total notional amount of $352.8 million have been entered into at the reporting d
rate funding for terms of 2 to 3 years at a weighted average proft rate of 3.74% per annum.
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UNITS IN ISSUE
Units in issue:
– At 26 November 2010
– Manager’s fees paid in units as at 31 December 2011
Units to be issued:
– Manager’s fees payable in units
Total Units issued and to be issued at 31 December 2011
Each Unit in the Trust represents an undivided interest in the Trust. The rights and interests of Unitholders
Trust Deed and include the right to:
•
receive income and other distributions attributable to the Units held;
•
participate in the termination of the Trust by receiving a share of all net cash proceeds derived f
of the assets of the Trust and available for purposes of such distribution less any liabilities, in ac
proportionate interests in the Trust. However, a Unitholder has no equitable or proprietary intere
assets of the Trust and is not entitled to the transfer to it of any assets (or part thereof) or of any esta
asset (or part thereof) of the Trust; and
•
attend all Unitholders’ meetings. The Trustee or the Manager may (and the Manager shall at the r
not less than 50 Unitholders or one-tenth in number of the Unitholders, whichever is the lesser) at
meeting of Unitholders in accordance with the provisions of the Trust Deed.
The Unitholders cannot give any directions to the Manager or the Trustee (whether at a meeting of Unithol
it would require the Trustee or the Manager to do or omit doing anything which may result in:
•
the Trust ceasing to comply with the Listing Manual issued by the SGX-ST or the Property Funds A
•
the exercise of any discretion expressly conferred on the Trustee or the Manager by the Trust Deed
of any matter for which the agreement of either or both the Trustee and the Manager is required un
A Unitholder’s liability is limited to the amount paid or payable for any Units. The provisions of the Trust D
Unitholders will be personally liable to indemnify the Trustee or any creditor of the Trustee in the event that li
exceed its assets.
Sabana AR 2011 Financial V9.indd 90
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