Bangkok--17 Jul--KTAM
Mr.Somchai Boonnamsiri Krung Thai Asset Management Public Company Limited (KTAM) said that KTAM prepares the 1st dividend payment for the unitholders of Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) in the amount of 238,242,000.- Baht on August 15, 2012 which is calculated from the first quarter of the operation period (13 March 2012 to 31 May 2012) at the rate of Baht 0.1346 per unit. Moreover, the Company will decrease the Fund’s capital together with the dividend payment at the rate of Baht 0.0160 per unit in order to pay unitholders the exceeding liquidity from non-cash items as part of the Fund Set-up expense as it would be amortized in the Profit and Loss Statement. So, this quarter, TLGF will pay unitholder at the rate of Baht 0.1506 per unit. The book closing date for determining the right of unitholders for the receipt of dividend and capital reduction will be on July 31, 2012.
TLGF was listed on the Stock Exchange of Thailand on 19 March 2012. It is a closed-end specific property fund with indefinite life. TLGF’s dividend policy is to payout no more than four times annually at a rate of no less than 90 percent of net profit, excluding unrealized gains from auditing of property reappraisals of leases during the related accounting period. The property fund has initially invested in 17 high-quality Tesco Lotus hypermarket-anchored shopping malls in prime locations across all regions of Thailand, covering Bangkok, upcountry and tourist destinations. The Fund has net asset value as of 31 May 2012 in the amount of 18,646,353,623.04 Baht or 10.5346 Baht per unit.