| Thu 25 Oct 2007, 15:19 | | DIV - Diversified - General Issue Of Linked Units |
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DIV
DIV
DIV - Diversified - General Issue Of Linked Units For Cash
Diversified Property Fund Limited
(Incorporated in the Republic of South Africa)
Registration number 2005/029685/06
Share code: DIV & ISIN: ZAE000072369
("Diversified" or "the company")
GENERAL ISSUE OF LINKED UNITS FOR CASH
1. GENERAL ISSUE OF LINKED UNITS FOR CASH
Linked unitholders are advised that Diversified has completed a general
issue of 9,523,809 linked units for cash at R10.50 per linked unit in
terms of a general authority granted by unitholders. A total amount of
R100 million was raised, the proceeds of which are to be utilised to
reduce debt. The issue price represents a 0.9% premium to the 30-day
volume weighted average price at the date on which the issue was agreed.
After the issue for cash there will be 156,444,750 Diversified linked
units in issue.
2. PRO FORMA FINANCIAL EFFECTS
The unaudited pro forma financial effects, for which the board of
Diversified is responsible, are presented for illustrative purposes only
and may not give a fair reflection of the financial results of operations
after the issue of linked units for cash.
The table below sets out the unaudited pro forma financial effects of the
issue of linked units for cash, based on the published audited results of
Diversified for the year ended 30 June 2007:
(cents) Before the After the
issue of issue of
linked units linked units Change
for cash for cash
Earnings per linked unit 219.96 212.65 (3.3%)
Headline earnings per linked 61.93 64.47 4.1%
unit
Distribution per linked unit 62.11 64.65 4.1%
Weighted average linked units 143,266,165 152,789,974 9,523,809
in issue for the year ended 30
June 2007
Linked units in issue at 30 146,920,941 156,444,750 9,523,809
June 2007
Notes:
1. The "Before the issue of linked units for cash" column reflects earnings
per linked unit ("eplu"), headline earnings per linked unit ("heplu") and
distribution per linked unit as published in the audited results of
Diversified for the year ended 30 June 2007;
2. The "After the issue of linked units for cash" column reflects what the
eplu, heplu and distribution per linked unit for the year ended 30 June
2007 would have been had the effective date of the issue for cash been 1
July 2006;
3. The pro forma financial effects of the issue of linked units for cash on
Diversified`s net asset value per linked unit and net tangible asset value
per linked unit at 30 June 2007 are not material.
Johannesburg
25 October 2007
Sponsor
Java Capital (Proprietary) Limited
Date: 25/10/2007 15:19:01 Produced by the JSE SENS Department.
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