Valid acceptances and excess applications for a total of 1,144,949,780 Rights Units were received as at the close of the Rights Issue on 5 December 2011 (the "Closing Date"), representing approximately 98.73% of the total number of 1,159,694,000 Rights Units to be issued pursuant to the Rights Issue. The balance 14,744,220 Rights Units, representing approximately 1.27% of the Rights Units to be issued under the Rights Issue, will be subscribed by DBS Bank Ltd. and United Overseas Bank Limited, in their capacity as Joint Managers and Underwriters, in equal proportion as set out in the Management and Underwriting Agreement.
Details of the valid acceptances and excess applications received are as follows:
Valid acceptances
Number of Rights Units - 1,094,160,863
% of Total Number of Rights units - 94.35
Excess applications
Number of Rights Units - 50,788,917
% of Total Number of Rights units - 4.38
Total
Number of Rights Units - 1,144,949,780
% of Total Number of Rights units - 98.73
The valid acceptances received include the acceptances by wholly-owned subsidiaries of KCL and KLL, being Keppel Real Estate Investment Pte. Ltd. and K-REIT Asia Investment Pte. Ltd. respectively, of their aggregate entitlements of 885,695,152 Rights Units, which includes the pro rata entitlement of the Manager that was renounced in favour of K-REIT Asia Investment Pte. Ltd., representing approximately 76.37% of the total number of Rights Units to be issued under the Rights Issue.
Keppel Real Estate Investment Pte. Ltd. has also made an application for 12,900,000 Excess Rights Units, representing approximately 1.11% of the total number of Rights Units to be issued under the Rights Issue.
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