|Announcement Title||Interested Person Transaction|
|Date & Time of Broadcast||Dec 31, 2018 13:21|
|Announcement Sub Title||Entry into Property Management Agreements|
|Submitted By (Co./ Ind. Name)||Adrian Chui|
|Designation||CEO & Executive Director|
|Description (Please provide a detailed description of the event in the box below)||Please refer to attached announcement.|
|Interested Person Details||
As at the date of this announcement, the Property Manager is a wholly-owned subsidiary of ESR Investment Management Pte. Ltd. (ESRIM). The ESR-REIT Manager is 67.3% owned by ESRIM, 25.0% owned by Shanghai Summit Pte Ltd and 7.7% owned by Mitsui & Co., Ltd.. ESRIM is in turn indirectly owned by ESR Cayman Limited which through its subsidiaries holds a deemed interest in approximately 9.3% of the issued units in ESR-REIT. ESRIM is therefore regarded as a controlling shareholder of the Manager under both the Listing Manual of Singapore Exchange Securities Trading Limited and Appendix 6 of the Code on Collective Investment Schemes (the Property Funds Appendix).
As the Property Manager is a wholly-owned subsidiary of ESRIM, the Property Manager (being a subsidiary of a controlling shareholder of the Manager) is (for the purposes of the Listing Manual) an associate of the Manager and an associate of the controlling shareholder of the Manager, and the Property Manager is therefore an interested person and an interested party of ESR-REIT for the purposes of Chapter 9 of the Listing Manual and paragraph 5 of the Property Funds Appendix, respectively.