Organisational Structure

RCL consists of two entities:

• RCL Group Trust (the “Trust”), an Australian registered managed investment scheme; and
• RCL Group Limited (the “Company”), an Australian public company.

Each Stapled Security issued by RCL comprises a Unit in the Trust and a Share in the Company. These securities are stapled, which means that they can only be bought and sold together.

Distributions of income from the Trust are generally not taxed in the Trust and will therefore be unfranked. Dividends from the Company are generally franked to some extent.

Babcock & Brown Residential Land Partners Services Limited acts as the responsible entity of RCL Group Trust.

To view organisational chart click here