OUR POLICIES AND PRACTICES
The Code encourages listed companies to have a policy
on the payment of dividends. The Manager’s policy is
to distribute 100% of CIT’s taxable income, comprising
substantially its income from the letting of its properties
after deduction of allowable expenses. The actual level
of distribution will be determined at the Manager’s
discretion taking into account the needs of the Trust for
capital expenditure, working capital requirements and the
liquidity position of CIT. Since the listing in 2006, CIT has
distributed 100% of its taxable income to its Unitholders.
The Manager has a dedicated Investor Relations and
Corporate Communications team which handles
communications with institutional investors, the
investment community, analysts and the media.
One of the key roles of the CEO, together with the Investor
Relations and Corporate Communications team, is to
keep the market and investors apprised of CIT’s financial
performance and corporate developments. The Manager
believes in regular, effective, unbiased and transparent
communication and conducts regular briefings for analysts
and media representatives, which generally coincide with
the release of CIT’s results. During these briefings, the
Manager will reviewCIT’s most recent performance, as well
as discuss the business outlook for CIT. In accordance with
the Manager’s objective of transparent communication,
briefing materials are released to the SGX-ST and made
available on CIT’s website.
For the year, the Manager met with institutional investors
in Singapore, Hong Kong, Europe, China, Tokyo and
Australia, through one-on-one or group meetings as
well as teleconferences. In addition, the Manager also
organised seminar to keep retail investors abreast of CIT’s
performance. The retail investors were also engaged
directly with the Manager as well as the Board of Directors
through the Annual General Meeting ("AGM").
In compliance with the Property Funds Appendix, an AGM
will be held after the close of the financial year, allowing
the Manager to interact with the retail investors. A copy
of CIT’s Annual Report will be sent to Unitholders no
later than four months from the end of each financial
year. Notice of the AGM will be published on SGXNET,
newspapers and CIT’s website. If any Unitholders are
unable to attend the AGM, they are entitled to appoint up
to two proxies to attend and vote on their behalf.
At the AGM, each distinct matter will be proposed as a
separate resolution. Unitholders will be invited to raise
questions they may have relating to the resolution to
be passed before voting on each of the resolutions by
poll, using an electronic voting system. This will allow
all Unitholders present, or represented at the meeting to
vote on a one unit, one vote basis. The voting results will
be screened at the meeting and announced via SGXNET
after the meeting.
As and when an Extraordinary General Meeting (“EGM”)
is to be convened, a circular containing details of the
matters proposed for the Unitholder’s consideration and
approval will also be sent to Unitholders; together with
the notice of the EGM. Such notice will also be published
on SGXNET, newspapers and CIT’s website.
Board members, Management and the external auditors
will be present at the AGM and EGM.
As part of the Manager’s efforts to encourage greater
Unitholders’ participation at the AGM, a Question and
Answer ("Q&A") session is held at the end of the AGM
to allow Unitholders the opportunity to put forth any
questions and clarify any issues they may have with
the Board members, Management or external auditors
regarding the affairs of the Manager and CIT.
CIT’s website also provides visitors with the option to
sign up for a free email alert service when there is any
newly posted information on the website or provide any
feedback via the electronic feedback form on the website.
CAMBRIDGE INDUSTRIAL TRUST | A WINNING FORMULA
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