News | First REIT

Notice Of A Substantial Shareholder's Interest

BackDec 22, 2006

Announcement Details

The details of the announcement start here ...

PART I

1. Date of notice to issuer * 13-12-2006

2. Name of Substantial Shareholder * PT. Lippo Karawaci Tbk

3.	Please tick one or more appropriate box(es): *
	Notice of a New Substantial Shareholder's interest. [Please complete Part II and IV]

PART II

1. Date of change of Interest 11-12-2006

2. Name of Registered Holder Bridgewater International Limited

3. Circumstance(s) giving rise to the interest or change in interest # Others

# Please specify details

It should be noted that Bridgewater has received 75,000,000 Units in part satisfaction of the purchase consideration for the sale of all the redeemable preference shares and ordinary shares of each of G.O.T. Pte. Ltd., Henley Investments Pte. Ltd., Primerich Investments Pte. Ltd. and Lovage International Pte. Ltd., pursuant to four share purchase agreements each dated 23 October 2006 entered into between HSBC Institutional Trust Services (Singapore) Limited, as trustee of First Real Estate Investment Trust, and Bridgewater.
As PT. Lippo Karawaci Tbk indirectly owns 100% of Bridgewater, PT. Lippo Karawaci Tbk is considered by the Manager to be deemed to be interested in the units held by Bridgewater.
Further, Bridgewater has on 11 December 2006 lent 20,000,000 Units to Merrill Lynch (Singapore) Pte. Ltd. ("Merrill Lynch"), as stabilising manager, pursuant to an over-allotment option granted to Merrill Lynch. Any Units which have not been purchased pursuant to the exercise of the over-allotment option will be redelivered by Merrill Lynch to Bridgewater. As PT. Lippo Karawaci Tbk indirectly owns 100% of Bridgewater, PT. Lippo Karawaci Tbk will be deemed to be interested in any Units which are re-delivered to Bridgewater by Merrill Lynch.

4. Information relating to shares held in the name of the Registered Holder

No. of Shares held before the change	0
As a percentage of issued share capital	0 %

No. of Shares which are subject of this notice	55,000,000
As a percentage of issued share capital	20.3 %

Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0.71

No. of Shares held after the change	55,000,000
As a percentage of issued share capital	20.3 %

PART III

1. Date of change of [Select Option]

2. The change in the percentage level From % To %

3. Circumstance(s) giving rise to the interest or change in interest [Select Option]

# Please specify details

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

PART IV

1.	Holdings of Substantial Shareholder , including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	0
As a percentage of issued share capital	0 %	0 %
No. of shares held after the change	0	55,000,000
As a percentage of issued share capital	0 %	20.3 %

Footnotes

Merrill Lynch (Singapore) Pte. Ltd. and Oversea-Chinese Banking Corporation Limited were the joint lead managers and underwriters of the initial public offering of units in First REIT.