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OVERVIEW INVESTMENT-STRATEGY INVESTMENT PORTFOLIO BOARD OF DIRECTORS

Investing Policy

(approved by the resolution of shareholders at the extraordinary general meeting of shareholders held on 17 February 2014)

Investing strategy – asset allocation – geographic focus and sector focus

The Board will seek to realise the Company’s Properties in an orderly manner, such realisations to be effected at such times, on such terms and in such manner as the Board (in its absolute discretion) may determine.

Assets or companies in which the Company can invest

The Company will not make any investments in new properties.

However, this will not preclude the Board (in its absolute discretion) from making any investment in existing Properties in the following circumstances:

  • where the Board, as advised by the Manager, believes such investment is to protect or enhance the value and saleability of such Property;
  • where the Company is contractually committed to make such investment;
  • in respect of Properties currently under construction, where the Company continues to pursue, where necessary, any licences and/or approvals which are required for a particular Property to continue its development;
  • undertaking investment in additional phases of such Properties (other than the existing phase currently being developed in respect of such Property) where the Board, as advised by the Manager, believes such investment in additional phases is to protect or enhance the value and saleability of such Property;
  • authorising the expenditure of such capital as is necessary to: (i) acquire any joint venture party’s interests in any of the Company’s existing investments; or (ii) carry out any construction necessary to maximise value and saleability of any existing Property; and
  • entering into any contract or other arrangement with any third party to realise all or any part of its existing Properties.

In addition, the Company will only commence construction on any of its existing Properties that have yet to commence construction to protect or enhance the value and saleability of such Property. In respect of such Properties, the Company will also continue to pursue, where necessary, any licences and/or approvals which are required for a particular Property.

These above restrictions will not preclude the Company making investments in short dated cash or near cash equivalent securities, which form part of its cash management practices.

The full text of the Investing Policy can be found on the http://dragon-upd.com/investor-information