Keppel (SG:K71U) has released an update.
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Keppel REIT has issued over 12 million units at S$0.8590 each to its management as part of their base fee for Q1 of 2024, electing to receive the entire fee in units instead of cash. This issuance has increased the company’s stake in Keppel REIT to 4.24%, with a total of 3.8 billion units now issued. This decision aligns with the company’s entitlement, as per the Trust Deed, to receive fees in a mix of units and cash since the end of 2008.
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