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OAS
OAS
OAS - OCPF - Issue of units in terms of general authority
Oasis Crescent Property Fund
A property fund created under the Oasis Crescent Property Trust Scheme
registered in terms of the Collective Schemes Control Act (Act 45 of 2002)
JSE code: OAS & ISIN: ZAE000074332
("OCPF" or "the fund"))
ISSUE OF UNITS IN TERMS OF GENERAL AUTHORITY
On 13 August 2007 the fund issued 4 080 000 units ("new units") at an issue
price of R12.25 per unit to various investors in terms of a private placement,
raising R49 980 000. The funds raised will be applied for investment in the
Crescent Global Property Equity Fund (CRESGPA) and for ongoing capital
expenditure. CRESGPA is a listed Shari`ah compliant global collective investment
scheme which will provide substantial geographic, industry and currency
diversification for OCPF.
The new units were issued in terms of the general authority to issue units for
cash granted to the directors of Oasis Crescent Property Fund Managers Limited
("OCPFM") at the general meeting of unitholders of the fund held on Thursday, 19
July 2007, and these units were issued at the 30 day weighted average traded
price of OCPF units prior to the date that the price of the issue was agreed by
the directors of OCPFM.
Financial effects of the issue of new units ("the unit issue"):
The unaudited pro forma financial effects of the unit issue, for which the
directors are responsible, are provided for illustrative purposes only to show
the effect thereof on earnings and headline earnings per unit as if the unit
issue had taken effect on 1 April 2006 and on net asset value per unit as if the
unit issue had taken effect on 31 March 2007. Because of their nature, the
unaudited pro forma financial effects may not give a fair presentation of the
fund`s financial position and performance. The unaudited pro forma financial
effects have been compiled from the audited financial statements for the year
ended 31 March 2007 and are presented in a manner consistent with the format and
accounting policies adopted by the fund and have been adjusted to take effect of
the income received pursuant to the unit issue and the resultant increase in
units in issue:
Before the After the % change
unit issue unit issue
Earnings per unit (cents) 156.9 145.9 (7.0)
Headline earnings per unit 100.9 98.6 (2.3)
(cents)
Net asset value per unit (cents) 1 154 1 161 0.6
Number of units in issue (`000) 22 231 26 311
Sandton
15 August 2007
Designated Advisor
Ernst & Young Sponsors (Pty) Ltd
Date: 16/08/2007 08:06:46 Produced by the JSE SENS Department.
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