Lendlease Global Commercial REIT issues 29.7 million new units for fee payments

About 24.99 million units were issued as payment of 100% of the REIT management fees.

Lendlease Global Commercial Trust Management Pte. Ltd., the manager of Lendlease Global Commercial REIT (LREIT), has issued 29,719,181 new units in LREIT for the payment of management and property management fees.

A total of 24,992,045 units were issued as payment of 100% of the REIT management fees, which include the base and performance fees.

This comprises 4,998,263 units issued at an issue price of $0.5086 per unit for the period from 1 January 2025 to 31 March 2025, 5,184,268 units issued at an issue price of $0.5090 per unit for the period from 1 April 2025 to 30 June 2025, and 14,809,514 units issued at an issue price of $0.5090 per unit for the performance fee for the financial year ended 30 June 2025 (FY2025).

The units were issued based on the 10-day volume-weighted average price (VWAP) of trades on the SGX-ST before the relevant quarter-end dates.

Lendlease GCR Investment Holding Pte. Ltd. (LGCRIH) was nominated to receive these units.

In addition, 4,727,136 units were issued as payment of 100% of the property management fees for 313@somerset and Jem.

This comprises 2,395,867 units issued at an issue price of $0.6350 per unit for the period from 1 January 2025 to 31 March 2025, and 2,331,269 units issued at an issue price of $0.6350 per unit for the period from 1 April 2025 to 30 June 2025.

The issue price was determined based on the higher of the 10-day VWAP or the closing price on the issuance date. LGCRIH was also nominated to receive these units.

Following the issuance, LGCRIH holds a total of 134,766,361 units, representing approximately 5.40% of the total units in issue.

The manager holds 28,480,137 units, representing approximately 1.14% of the total units in issue. After the issuance, the total number of LREIT units in circulation stands at 2,495,893,783.

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