News Detail

Date/Time
13 Nov 2018 18:18:00
Headline
Notification of the 1st capital reduction of Bualuang Office Leasehold Real Estate Investment Trust
Symbol
B-WORK
Source
B-WORK
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                Capital reduction

Subject                                  : Capital reduction
Date announced                           : 13-Nov-2018
Decreasing value of units (THB per unit) : 0.1843
Par value before capital reduction (THB  : 10.00
per unit)
Par value after capital reduction (THB   : 9.8157
per unit)
Book closing date for fixing the names   : 27-Nov-2018
of unitholders for the right to receive 
payment from fund's capital reduction
Ex-Capital Return date (XN)              : 23-Nov-2018
Payment date                             : 11-Dec-2018
Remark                                   :
To:    The President
The Stock Exchange of Thailand

The Meeting of Real Estate Investment Committee of BBL Asset Management Company 
Limited,
acting as a REIT Manager of Bualuang Office Leasehold Real Estate Investment 
Trust ("B-WORK"), held on November 13, 2018 passed a resolution of capital
reduction of B-WORK by decreasing the value of trust units at the rate of Baht
0.1843 per trust unit (by decreasing the par value of the trust unit from Baht
10.0000 per trust unit to Baht 9.8157 per trust unit) which will be paid to the
unitholders as details described below:
    1. The book closing date for fixing the names of unitholders for the right to 
receive payment         from capital reduction will be on November 27, 2018.
    2. The date for paying the 1st capital reduction will be on December 11, 2018.
The distribution of the capital reduction is for the event that B-WORK has an 
unrealised loss on investment from the revaluation of investment in leasehold
properties by an independent appraiser.                    Therefore, B-WORK
recognised such loss and needed to reflect as total unrealised loss on
investment in financial statement for the third quarter 2018. As a result,
B-WORK considers distributing this excess liquidity from operation to the
unitholders through a capital reduction.

The total unrealised loss on investment is non-cash expenses and does not apply 
for the adjusted net profit calculation. Therefore, B-WORK can decrease the
capital in accordance with the rules set forth in the Trust Deed under the
capital reduction section.

Please be informed accordingly.
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