148 UNITED HAMPSHIRE US REIT Corporate Governance DISTRIBUTION POLICY UHREIT’s distribution policy is to distribute at least 90% of its annual distributable income. Such distributions are typically paid on a semi-annual basis. The actual level of distribution will be determined at the Manager’s discretion and may be greater than 90% of its distributable income for that financial year. The actual quantum of distributions to be paid for each financial year is determined by the Board of Directors, taking into account UHREIT’s funding requirements, growth strategy, financial position and other capital management considerations. The Manager will endeavour to pay distributions no later than 90 days after the end of each distribution period. UHREIT had on 28 June 2021 announced the establishment of a distribution reinvestment plan (“DRP”) pursuant to which Unitholders may elect to receive fully paid new Units (“New Units”) in respect of the cash amount of any distribution to which the DRP applies. The DRP may be applied from time to time to any distribution declared by UHREIT as the Manager may determine in its absolute discretion. Participation in the DRP is optional. Distributions are generally paid within the same calendar quarter of the relevant record date. Distributions will be declared in United States Dollars (“USD”) and Unitholders are provided the choice of receiving the distribution in either USD, Singapore Dollars or in fully paid new Units under the DRP at each period. Each Unitholder will receive his distribution in Singapore Dollars equivalent of the USD distribution declared, unless he elects to receive the relevant distribution in USD or receive New Units by submitting a “Distribution Election Notice” before the relevant cut-off date. Code Of Conduct The Manager has adopted a Code of Conduct which sets out the principles of conduct to guide employees and directors in carrying out their duties and responsibilities to the highest standards of personal and corporate integrity when dealing with UHRM’s competitors, customers, suppliers, other employees and the community. All Directors and employees are expected to abide by the standards and rules of conduct which apply irrespective of the jurisdiction or legal entity through which the Company operates; and may be properly supplemented by country or business specific requirements. The policy covers a range of issues, including confidentiality, personal data protection, conflicts of interest, anti-bribery and corruption, workplace health and safety. Noncompliance with the Code of Conduct may lead to disciplinary action. Anti-Bribery and Corruption Incidents of corruption and bribery can lead to serious legal repercussions, damage reputation, and erode public trust. The Manager is committed to upholding the highest standards of governance and ethical conduct, adopting a zero- tolerance policy against all forms of corrupt practices, including bribery, fraud, and money laundering. All employees must comply with the Group’s strict anti-bribery and anti-corruption policies and procedures. Our Gifts and Entertainment Policy within the Code of Conduct outlines detailed guidelines and measures regarding the giving and receiving of gifts (monetary or otherwise), entertainment and business dealings that could potentially create real or perceived obligations or indebtedness to any party. This policy, applicable to all employees and directors, strictly prohibits the acceptance or offering of bribes, gratification, or any other inducements. The Code of Conduct Policy is communicated to all employees and directors. To the Manager’s knowledge, there were no incidents of corruption in FY2025.
RkJQdWJsaXNoZXIy NTM2MDQ5