C A M B R I D G E I N D U S T R I A L T R U S T
A N N U A L R E P O R T 2 0 1 5
/ 1 1 5
Notes:
(A)
Significant Non-cash Transactions
(i)
Management fees paid in units
Management fees for the year ended 31 December 2015 were partly paid by CIT issuing an aggregate
of 6.5 million units (2014: 3.4 million units comprising 0.9 million issued units and 2.5 million units issued
after year end) amounting to $2.7 million (2014: $2.4 million).
(ii)
Acquisition fees paid in units
A total of 85,922 units (equivalent to $60,000) were issued as payment of the acquisition fee to the
Manager in connection with the acquisition of the remaining 40% partnership interest in Cambridge SPV1
LLP from Oxley Projects Pte. Ltd., an interested party to the Trust (“Cambridge LLP Acquisition”) in March
2015. The Property Fund Appendix of the Collective Investment Schemes requires that the acquisition fee
for an interested party transaction to be paid in units.
Please see Note 22 for more details.
(iii)
Distributions paid to Unitholders
Distributions for the year ended 31 December 2015 were partly paid by CIT issuing an aggregate of 22.2
million units (2014: 28.8 million units), amounting to $14.6 million (2014: $20.0 million), pursuant to the
distribution reinvestment plan.
2015
2014
$’000
$’000
Distributions paid to Unitholders
62,934
62,609
Distributions paid in units pursuant to distribution reinvestment plan
(14,565)
(19,981)
Net Distributions paid to Unitholders in cash
48,369
42,628
(B)
Net Cash Outflow on Purchase of Investment Properties (including acquisition related costs)
Net cash outflow on purchase of investment properties (including acquisition related costs) is set out below:
Group
2015
2014
$’000
$’000
Investment properties
19,133 143,170
Acquisition related costs
337
2,109
Capital expenditure incurred
9
360
Investment properties acquired (including acquisition
related costs and capital expenditure incurred)
19,479 145,639
Retention sums
–
(50)
Net cash outflow
19,479 145,589
The accompanying notes form an integral part of these financial statements.
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED 31 DECEMBER 2015
