Investor & Media Relations
Effective investor and media relations and strong corporate transparency continue to be one of our top strategic priorities. We regularly communicate with investors, analysts and media to update them on CMT's strategies and corporate developments in a timely and open manner.
Investor Relations Activities
CMT's management team frequently meets existing and potential investors and analysts at one-on-one or group meetings, local and overseas conferences and roadshows. In 2011, we met or held conference calls with about 300 institutional investors globally and took part in investor conferences and roadshows in Singapore, Hong Kong, London, Sydney, Canada and United States. We are also increasingly engaging in dialogue with our growing base of debt investors, given CMT’s diversified sources of debt funding. In March 2011, we participated in CapitaLand Debt Investor Relations Forum which was well attended by about 120 debt investors.
We made conscious efforts to engage more retail investors as well. During the year, we participated in the Asian Investment Conference & Exhibition, an investor education fair organised by the Securities Investors Association (Singapore) (SIAS). Currently, 23 local and foreign brokerage firms have research coverage on CMT.
Approximately 14,000 registered Unitholders owned CMT units as at 31 December 2011. About 60.16% of the units were held by institutional investors with CapitaMalls Asia Limited (CMA) owning another 28.54% of the units while retail investors constitute the remaining 11.30% as at 31 December 2011. Excluding CMA’s stake, investors from North America, Singapore and Hong Kong held the largest portions of the remaining unitholdings in CMT, at 26.14%, 24.67% and 21.44% respectively. Investors from Europe, Australia and other parts of Asia accounted for the rest of the unitholdings.
Combined analyst and media results briefings are held every six months to provide an update on CMT's half-year and full-year financial and operational performance. The briefings are webcast ‘LIVE’ and viewers of the webcasts can send in questions online to be addressed by CMT's management team on the spot. In line with our commitment to deliver accurate, timely and transparent information to Unitholders and the general public, financial results announcements are made within 21 days from the end of each quarter.
In addition, annual general meetings (AGM) and extraordinary general meetings (EGM) provide important channels for communication between CMT's management and Unitholders. CMT convened its second AGM in April 2011 with Unitholders approving all resolutions tabled at the event. An EGM was also held on the same day to seek Unitholders' approval for a new master property management agreement. Voting for all the AGM and EGM resolutions were conducted via polls. Almost 100.0% of CMT Unitholders’ votes were in favour of the EGM resolution.
General information on CMT including annual reports, property portfolio details and investor presentations are updated regularly on the website for investors and the general public. All news releases and legal announcements are also available on the Singapore Exchange Securities Trading Limited (SGX-ST) website. Mall tours are occasionally conducted for analysts, investors and journalists who are keen to visit CMT's properties to better understand the performance of the various malls and the asset enhancement initiatives which were completed.
In November 2011, we successfully raised gross proceeds of approximately S$250.0 million through a private placement of 139,665,000 new units, which was fully subscribed. The new units were issued to over 30 existing and new institutional investors from Asia, the United States and Europe, further diversifying CMT unitholders’ base.
