FCOT to waive brokerage fees for odd lots

The odd lots are part of the trust scheme in its proposed merger with FLT.

Frasers Commercial Trust (FCOT), through its manager Frasers Commercial Asset Management, has announced that it will set a brokerage fee arrangement for the trading of odd lots in the trust scheme in its proposed merger with Frasers Logistics & Industrial Trust (FLT), said in its bourse filing.

FCOT unitholders noted that they may receive odd lots of FLT units pursuant to the trust scheme.

FCOT’s manager has arranged with brokers to not charge any brokerage fees to holders of FLT units in respect of odd lots trades within the period of one month commencing from the date of allotment and issuance of the consideration units.

The brokers included in the arrangement are DBS Vickers Securities, OCBC Securities, and Phillip Securities.

The brokerage fee arrangement applies to all odd lots that are an aggregate of 99 or less FLT Units bought in a single day, or an aggregate of 99 or less FLT Units sold in a single day.

To further facilitate the trading of odd lots, FCOT’s manager has also set up with each of OCBC Securities and Phillip Securities to provide buy side facilities for the trading of FLT Units in odd lots during the applicable period.