What is a Real Estate Investment Trust ("REIT")?

REIT is a collective investment scheme constituted as a unit trust that invests primarily in income-producing real estate assets and uses the income to provide returns to its unitholders. Purchasing a unit in a REIT allows investors to share the benefits and risks of owning the real estate assets held by the REIT.

What is The Link Real Estate Investment Trust (The Link REIT)?

The Link REIT is the first REIT listed on the Hong Kong Stock Exchange. Its property portfolio comprises 180 retail and carpark facilities across Hong Kong.

The units of The Link REIT are traded on the Hong Kong Stock Exchange under the stock code 823.

What are the benefits of investing in the units of The Link REIT?

Certainty as to business focus, as a REIT does not have the discretion to diversify its core
business activities outside of the real estate sector or to own significant non-real estate assets
A current policy to distribute an amount equivalent to 100% of total distributable income for
each financial year
Financial and operating transparency
A statutory and regulatory corporate governance framework and an established internal
corporate governance framework overseen by the Board comprising a majority of independent
non-executive directors including the Chairman.
Enhanced liquidity in comparison to direct investments in real estate

Who is the manager of The Link REIT?

The Link REIT is managed by The Link Management Limited.

What are the voting rights as unitholders of The Link REIT?

Under applicable law and the provisions of the trust deed, The Link Management Limited will at least once in every calendar year convene a general meeting of unitholders as the annual general meeting. The Link REIT will not hold any additional meetings for unitholders unless the trustee or the manager convenes a meeting or unless not less than two unitholders registered as together holding not less than 10% of the units for the time being in issue request a meeting to be convened.

Voting at a meeting shall be by way of a poll. Every unitholder has one vote for each unit it owns provided such unit is fully paid up. The trust deed does not contain any limitation on non-Hong Kong residents or foreign unitholders holding units or exercising the voting rights with respect to their unitholdings.

What is the distribution per unit and per lot of The Link REIT?

The final distribution per unit of The Link REIT for the year ended 31 March 2010 is HK 49.02 cents. Each lot consists of 500 units, therefore, distribution per lot is approximately HK$ 245. With the interim distribution of HK48.35 cents per unit, the total distribution for year ended 31 March 2010 is HK$97.37 cents per unit.

Please refer to Dividend Distribution for information on past distributions.

What is Scrip distribution election?

A distribution reinvestment scheme is available to the Unitholders and the Unitholders can elect to receive their distribution in the form of cash, or in the form of new units of The Link REIT, or a combination of both.

When do I have to purchase units of The Link REIT to be eligible to distributions?

For the purpose of the distribution, the register of Unitholders of The Link REIT will be closed for a period of time, during which no transfer of units can be registered. To qualify for the distribution, all transfers, accompanied by the relevant unit certificates, must be lodged with The Link REIT's unit registrar, Computershare Hong Kong Investor Services Limited, Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong for registration not later than 4:30 pm on a specified date. Details of the arrangements and dates will be announced when confirmed.

What should I do if I don't receive the distribution cheque?

Unitholders should contact their stock brokers or Computershare Hong Kong Investor Services Limited (Tel: 2862 8555).

When is The Link REIT's next distribution?

The Link REIT's distribution policy is that two distributions will be made in respect of each year, being distributions with respect to the six-month periods ending 31 March and 30 September. Distributions will be paid shortly following the publication of its year-end and the interim results. The Directors anticipate that interim and final distributions will be paid in January and August in each year, respectively. Therefore, the next distribution should be in August 2010.

When and where is the Annual General Meeting (AGM)?

The 2010 AGM of The Link REIT will be held on 28 July 2010 at the Renaissance Harbour View Hotel, Hong Kong.