Keppel REIT · SGX:K71U
Keppel REIT — K-REIT Asia — Shareholder Meeting (October 2009)
8 slides from Keppel REIT's shareholder meeting presentation, Oct 21, 2009
Slide 1: Extraordinary General Meeting
Extraordinary General Meeting Singapore 21 October 2009 1
Slide 2: Important Notice
Important Notice This presentation has been prepared by K-REIT Asia Management Limited, as manager of K-REIT Asia (the "Manager"), solely for use in connection with the extraordinary general meeting of K-REIT Asia to be held in connection with the Rights Issue and the Trust Deed Supplement to Facili
Slide 3: Rationale for the Rights Issue
Rationale for the Rights Issue Position K-REIT Asia for acquisition growth across Asia Facilitate diversification of K-REIT Asia’s capital structure Finance asset enhancement initiatives to maximise rental income Provide greater financial flexibility Consistent with the Manager’s long-term
Slide 4: Overview of the Rights Issue
Overview of the Rights Issue Underwritten renounceable Rights Issue 1-for-1 Rights Ratio, approx. 666.7m Rights Units at S$0.93 per Rights Unit Raising gross proceeds of approximately S$620 million Offer Eligible Unitholders can: Structure accept their provisional allotments and apply for
Slide 5: Use of Proceeds
Use of Proceeds Proceeds will be utilised in mainly 3 ways: 1. Strengthen the balance 2. Provide headroom for 3. Finance asset sheet strategic acquisitions enhancement initiatives Gross proceeds of approximately S$620m Amount % Gross Use S$501.0m 80.8% Debt repayment S$115.0m 18.5% Acquisitions, ass
Slide 6: Enhance Financial Flexibility for Further Growth
Enhance Financial Flexibility for Further Growth Aggregate Leverage 33.0% 29.5% 9.1% Actual Pro Forma (1) Pro Forma (1) Pre-Rights Issue Post-Rights Issue Post-Rights Issue, the debt headroom created will allow K-REIT Asia to : provide additional funding capacity of up to S$650m(2) increase its
Slide 7: Indicative Timetable
Indicative Timetable Event Date Last day of “cum-rights” trading 22 October (Thu) First day of “ex-rights” trading 23 October (Fri) Rights Issue Books Closure Date 27 October (Tue) Lodgement of OIS Trading of “nil-paid” rights 30 October (Fri) – 9 November (Mon) Last day for acceptance 13 November (
Slide 8: Approvals Sought from Unitholders
Approvals Sought from Unitholders Resolution 1 (Extraordinary The Proposed Underwritten Resolution) Renounceable Rights Issue Resolution 2 (Extraordinary The Proposed Trust Deed Supplement Resolution) to Facilitate Equity Fund Raising 8