CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
(A) Significant Non-Cash Transactions
There were the following significant non-cash transactions:
(i) 4,949,383 (2013: 4,151,455) Units, of which 3,590,528 (2013: 2,966,848) Units were issued and
another 1,358,855 (2013: 1,184,607) Units will be issued to the Manager by the Trust, amounting
to approximately $4,938,000 (2013: $4,694,000) at various Unit prices in satisfaction of Manager’s
fee payable in respect of the year ended 31 December 2014.
(ii) During the year ended 31 December 2013, certain Sukukholders (“Converting Sukukholders”)
had exercised their options to convert an aggregate principal amount of $7.5 million of Convertible
Sukuk. As a result, the Trust elected to issue 6,285,090 Units at the then conversion price of
$1.1933 to the Converting Sukukholders.
(iii) 23,464,386 Units amounting to approximately $22,455,000 were issued by the Trust as part
satisfaction of the purchase consideration of 10 Changi South Street 2.
(iv) 5,609,340 Units amounting to approximately $5,671,000 (net of withholding tax) were issued
by the Trust as part payment of distributions in respect of period from 1 January 2014 to
30 September 2014, pursuant to the DRP.
For the year ended 31 December 2014
The accompanying notes form an integral part of these financial statements.
SABANA REIT
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ANNUAL REPORT 2014
100
