Singapore legislation
Section 137P
Section 137P
Duty of holders of voting shares in trustee‑manager to notify trustee‑manager
(1)
Where the percentage of interest of a person in the voting shares in a trustee‑manager of a registered business trust or recognised business trust reaches, crosses or falls below 15%, 30%, 50% or 75%, the person must give written notice to the trustee‑manager within 2 business days after the person becomes aware of this.
(2)
A notice under subsection (1) must be in such form and must contain such information as the Authority may prescribe.
(3)
In subsection (1), the percentage of interest of a person in the voting shares in a trustee‑manager of a registered business trust or recognised business trust is ascertained by expressing the total votes attached to all the voting shares in which the person has an interest or interests immediately before or (as the case may be) immediately after the relevant time, as a percentage of the total votes attached to —
all the voting shares (excluding treasury shares) in the trustee‑manager; or
where the share capital of the trustee‑manager is divided into 2 or more classes of shares, all the voting shares (excluding treasury shares) in the class concerned,and, if it is not a whole number, rounding that figure down to the next whole number.