1. GENERAL INFORMATION (continued) (c) Acquisition and Divestment fees The Manager is entitled to receive the following fees: (i) An acquisition fee at the rate of 0.75% for acquisitions from Related Parties (as defined in the Trust Deed) and 1.0% for all other cases (or such lower percentage as may be determined by the Manager in its absolute discretion). In respect of any acquisition of real estate assets from related parties, such a fee should be in the form of Units issued by ECW at prevailing market price(s) instead of cash. Such Units should not be sold within 1 year from the date of their issuance; and (ii) A divestment fee at the rate of 0.5% (or such lower percentage as may be determined by the Manager in its absolute discretion) of the sale price of the real estate sold or divested, pro-rated if applicable to the proportion of ECW’s interest. In respect of any sale or divestment of real estate assets to related parties, such a fee should be in the form of Units issued by ECW at prevailing market price(s) instead of cash. Such Units should not be sold within 1 year from the date of their issuance. The acquisition and divestment fees will be paid in the form of cash and/or Units and are payable as soon as practicable after completion of the respective acquisition or disposal. (d) Development management fee The Manager is entitled to receive a development management fee equivalent to 3.0% of the total project costs incurred in a development project undertaken and managed by the Manager on behalf of ECW. The development management fee is payable in cash and/or Units, in equal monthly instalment over the construction period of each development project based on the Manager’s best estimate of the total project costs and construction period and, if necessary, a final payment of the balance amount when the total project costs are finalised. (e) Fees under the Property Management Agreement (i) Property management services The Trustee will pay Yuntong Property Management Co., Ltd. (the “Property Manager”), for each financial year (as defined in the Property Management Agreement) for the following management fees: For the Properties except for Wuhan Meiluote: • a property management fee of 1.5% per annum of the gross revenue of each property. For Wuhan Meiluote property: • a property and lease management fee equivalent to an amount of RMB1,105,400 per annum. ANNUAL REPORT 2024 81 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
RkJQdWJsaXNoZXIy NTkwNzg=