|
RES
RES
RES - Resilient - Issue of units to the Siyakha Education Trust and
disclosure in respect of cumulative issues of units under a general
authority
Resilient Property Income Fund Limited
(Incorporated in the Republic of South Africa)
Registration number 2002/016851/06
Share code: RES & ISIN: ZAE000043642
("Resilient" or "the company")
ISSUE OF UNITS TO THE SIYAKHA EDUCATION TRUST AND DISCLOSURE IN RESPECT OF
CUMULATIVE ISSUES OF UNITS UNDER A GENERAL AUTHORITY
Issue of units to The Siyakha Education Trust
Linked unitholders are advised that the Resilient board has approved the
issue of 3 368 421 linked units to The Siyakha Education Trust (the
"Siyakha units") in furtherance of the company`s commitment to black
economic empowerment. The Siyakha Education Trust is a trust established
exclusively for the benefit of black education in South Africa.
The Siyakha units will be listed at R23.75 (R23.42 ex distribution) per
linked unit and will be issued in terms of the general authority to issue
linked units for cash as granted by linked unitholders to the board at the
annual general meeting held on 12 April 2007 ("the general authority"). The
Siyakha units will rank pari passu with existing units in issue, including
the right to receive a distribution for the period ending 31 December 2007.
The issue of The Siyakha units will raise cash in an amount of R80 million,
comprising R1 million in pre-paid distributions and the balance in capital.
The proceeds from the issue of linked units will be used in the reduction
of company debt.
Subject to JSE approval, The Siyakha units will be listed with effect from
Friday, 21 September 2007.
Issues of linked units under the general authority
In the 2007 financial year to date Resilient has issued a total of 10 186
602 linked units (including the issue of The Siyakha units) in terms of the
general authority (the "general authority issues"). On a cumulative basis,
the linked units so issued have been issued at a 0,1% premium to the 30 day
volume weighted average price of linked units, calculated with reference to
the respective dates on which the general authority issues were approved by
the board.
The pro-forma financial effects of the general authority issues set out in
the table below are the responsibility of the Resilient directors and have
been prepared for illustrative purpose only, to show how the general
authority issues may have effected the company`s published results for the
six month period ended 30 June 2007 ("the interim results"). Due to their
nature the pro-forma financial effects may not fairly present the company`s
financial position, changes in equity, results of operations or cash flows
following the general authority issues.
As per the Pro-forma Pro-forma Change
interim before the after the
results general general
authority authority
issues issues
Net asset value R15.79 R15.49 R15.96 3.0%
and net tangible
asset value per
linked unit
Weighted average 150 329 171 143 510 990 153 697 592 10 186 602
linked units in
issue for the
period ended 30
June 2007
Linked units in 150 329 171 143 510 990 153 697 592 10 186 602
issue at 30 June
2007
Notes:
1. the "As per the interim results" column reflects the net asset value
("NAV") and net tangible asset value "(NTAV") per linked
unit as published in the interim results;
2. the "Pro-forma before the general authority issues" column reflects
what the NAV and NTAV per linked unit at 30 June 2007 would have been had
there been no issues of linked units under the general authority prior to
30 June 2007;
3. the "Pro-forma after the general authority issues" column reflects
what the NAV and NTAV per linked unit at 30 June 2007 would have been had
the effective date of the general authority issues been 30 June 2007;
4. the pro-forma financial effects of the general authority issues on
Resilient`s distribution per linked unit and headline earnings per linked
unit as disclosed in the interim results are not material.
Johannesburg
19 September 2007
Sponsor
Java Capital (Proprietary) Limited
Date: 19/09/2007 08:55:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
