CG malls europe - Commerz Real

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Commerz Real Estate Master FCP – SIF
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT DECEMBER 31, 2009
16. Share capital
CG malls europe initially issued Class A Units to investors (including to Commerz Real AG), a Class F Unit (Fee Unit)
and a Class P Unit (Promote Unit). As at December 31, 2009 only Class A Units have been issued. Furthermore:
- Each Class A Unit participates proportionally to the aggregate number of other Class A Units of the relevant Series in
all distributions and in the proceeds of any winding up of CG Mall Europe that are allocable to such Series of Class A
Units in accordance with the Percentage Interest from time to time of such Series of Class A Units.
- A Class F Unit will be issued to the Management Company upon decision from the managers of the Fund. The Class
F Unit participates in all distributions and in the proceeds of any winding up of CG malls europe that are allocable
to the Class F Unit in accordance with the Percentage Interest from time to time of the Class F Unit. The Class F Unit
has the same economic rights as Class A Units, except that
(i) it does not pay the Deferred Management Fee or the Promote;
(ii) it has preferred redemption rights;
(iii) the Percentage Interest of the Class F Unit will initially be 0% and it will be increased quarterly by the value of the
aggregate Deferred Management Fee for such period (see clause 6.2.4 of the Private Placement Memorandum).
As at December 31, 2009 the total authorised number of Class A shares outstanding is 2.90 million with a par value of
EUR 100 per unit (2008: EUR 100 per unit). All issued units are fully paid.
The Board of Directors of the Management Company may decide to create shares of different classes. The classes may
differ in their fee structure, minimum investment requirements, type of target investors and distribution policy.