Distribution Policy

In accordance with the prospectus for IPO of ECW, ECW’s distribution policy is to distribute 100% of ECW’s Distributable Income for the period from the listing Date to 31 December 2019. Thereafter, ECW will distribute at least 90% of its Distributable Income on a semi-annual basis. ECW has been making distribution on a quarterly basis since its first distribution on 28 November 2016. The Manager will determine at a later stage whether it will change the frequency of distributions.