Keppel unit acquires 269,707 shares in Keppel Infrastructure Trust

Each share was priced at $0.47.

Keppel Corporation’s subsidiary Keppel Infrastructure Fund Management (KIFM) has acquired 269,707 units in Keppel Infrastructure Trust (KIT) at a price of $0.47 per unit, an announcement revealed.

The management and performance fee units were issued to KIFM and constitute payment by KIT of 5.9% of the aggregate of the management fee and performance fee due to KIFM for the period from 1 October 2018 to 31 December 2018, Keppel added. The issue price was arrived at based on the volume weighted average price for a unit in KIT for all trades done on the Singapore Exchange Securities Trading (SGX-ST).

Following the transaction, Keppel Corporation’s interest in KIT has increased from approximately 18.20% or 702,361,054 units to 18.21% or 702,630,761 units, the firm highlighted.

In a separate announcement, Keppel Corporation revealed that the unitholding of its subsidiary Keppel DC REIT Management (KDCRM) in Keppel DC REIT has decreased from 2,468,047 units to 2,055,589 units.

This is due to the transfer of a total of 412,458 units pursuant to the vesting on 28 February 2019 of awards granted under KDCRM’s performance unit plan (PUP) and KDCRM’s restricted unit plan (RUP) to employees of KDCRM who satisfy the performance conditions and other terms and conditions, Keppel explained.

With this transaction, Keppel’s deemed interest in Keppel DC REIT decreased from approximately 25.23% or 341,049,023 units to approximately 25.19% or 340,636,565 units.