NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 December 2021 46. EVENTS AFTER THE REPORTING DATES On 4 August 2021, the Company entered into an Acquisition Agreement in relation to a business combination of the Group with ARA Asset Management Limited and its subsidiaries (“ARA Group”) (“ARA Acquisition”). The total consideration is US$4,859 million, determined based on prevailing share price on completion of HK$25.15 per share. The acquisition was completed on 20 January 2022. On completion, ARA Group became a subsidiary of the Company and accordingly, the financial results of the ARA Group will be consolidated into the accounts of the Company. On 3 February 2022, the Company made payment for the redemption in full of all the outstanding S$350,000,000 6.75% Fixed Rate Notes (“Notes”) issued pursuant to the US$2,000,000,000 Multicurrency Debt Issuance Programme. Following the full redemption of all the outstanding Notes, the Notes had been cancelled in accordance with the terms and conditions of the Notes, and following such cancellation, there are no outstanding Notes. 47. UPDATE ON COVID-19 As at the date on which this set of financial statements were authorised for issue, the Group was not aware of any material adverse effects on the financial statements as a result of the COVID-19 pandemic. Nonetheless, given the uncertainty around the COVID-19 pandemic, it is difficult to predict how long these conditions will continue and the full extent to which ESR may be affected in the future. The Group will continue to be vigilant, maintain flexibility in the operations, proactively manages and reacts to its impacts on the financial position and operating results of the Group, as appropriate. E S R C A Y M A N L I M I T E D A N N U A L R E P O R T 2 0 2 1 237
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