IREIT Global
annual report 2014
For the reporting period from 1 November 2013 (date of constitution) to 31 December 2014
Notes to the
Financial Statements
12.
UNITS IN ISSUE AND TO BE ISSUED
In accordance with the Trust Deed, IREIT’s distribution policy provides the unitholders with a
right to receive distribution which IREIT has a contractual obligation to distribute to unitholders.
Accordingly, the units issued are compound instruments in accordance with IAS 32. The Manager
considers the equity component of the issued units to be insignificant and that the net assets
attributable to unitholders presented on the statement of financial position as at 31 December
2014 mainly represent financial liabilities.
Group and IREIT
31 December
2014
Units
Units in issue:
As at 1 November 2013 (date of constitution)
1,000
Issue of new units relating to:
Initial public offering
167,733,000
Private placement
251,603,000
At the end of the period
419,337,000
Units to be issued:
Manager’s management fees payable in units
1,164,704
Total units in issue and to be issued at the end
of the period
420,501,704
The units to be issued to the Manager as payment of Manager’s fees were issued subsequent to
the end of the reporting period.
13.
NET ASSET VALUE PER UNIT
Net asset value per unit is based on:
Group
IREIT
31 December
2014
31 December
2014
EUR’000
EUR’000
Net assets
199,974
209,637
Number of units in issue and to be issued at the
end of the period (‘000) (Note 12)
420,502
420,502
Net asset value per unit (EUR)
0.48
0.50
