13 Nov 2018 18:18:00
Notification of the 1st capital reduction of Bualuang Office Leasehold Real Estate Investment Trust
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. ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.