AL-SALAM REIT ANNUAL REPORT 2017

AL-SALĀM REIT ANNUAL REPORT 2017 113 Except as disclosed above, none of the other Directors of the Manager in office at the end of the financial year had any interest in shares in the Fund or its related corporations during and at the end of the financial year. MANAGER’S REMUNERATION Pursuant to the Trust Deed dated 26 March 2015, the Manager is entitled to receive from the Fund: (a) A base management fee of up to 1% per annum of total asset value (excluding cash and bank balances) of the Fund calculated on a monthly accrual basis; (b) An acquisition fee of 1% of the transaction value (being the total purchase price) of any investment property directly or indirectly acquired from time to time by the Trustee for and on behalf of the Fund pro-rated, if applicable, to the proportion of the Fund’s interest and payable to the Manager upon completion of the acquisition of the investment property; and (c) A disposal fee of 0.5% of the transaction value (being the total sales price) of any investment property directly or indirectly sold from time to time by the Trustee for and on behalf of the Fund pro-rated, if applicable, to the proportion of the Fund’s interest and payable to the Manager upon completion of the disposal of the investment property. SOFT COMMISSION During the year, the Manager did not receive any soft commission from its broker, by virtue of transactions conducted by the Fund. RESERVES AND PROVISIONS There was no material transfer to and from reserves or provisions during the financial year. OTHER INFORMATION (a) Before the statement of profit or loss and other comprehensive income and the statement of financial position of the Fund were made out, the Manager took reasonable steps: MANAGER’S REPORT - CONT’D