| Tue 22 Jul 2008, 8:32 | | OAS - Oasis Crescent Property Fund - Results announcement in respect of the |
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OAS
OAS
OAS - Oasis Crescent Property Fund - Results announcement in respect of the
income distribution
Oasis Crescent Property Fund
A property fund created under the Oasis Crescent Trust Scheme registered in
terms of the Collective Schemes Control Act (Act 45 of 2002)
JSE code: OAS
ISIN: ZAE000074332
("OCPF" or "the Fund")
RESULTS ANNOUNCEMENT IN RESPECT OF THE INCOME DISTRIBUTION
Unitholders are referred to the SENS announcements of 23 May 2008 and 13 June
2008 where it was announced that an income distribution, after non-permissible
income, of 45.49 cents per unit, in respect of the 6 months ending 31 March
2008, had been declared to unitholders recorded in the register of OCPF at close
of business on Friday, 18 July 2008, with the election to receive a unit
distribution of 3.79083 units, at 1200 cents per unit, for every 100 units held
at close of business on Friday, 18 July 2008, in lieu of the income
distribution.
The directors of Oasis Crescent Property Fund Managers Limited ("the Manager"),
the management company of the Fund, hereby advise unitholders that the closing
date and time for the election of the unit distribution was 12:00 on Friday, 18
July 2008 and that elections to receive the unit distribution were received from
unitholders holding 20 398 976 units. Accordingly 773 290 new units in OCPF have
been issued to the unitholders that elected to receive same.
The income distribution, after non-permissible income, of 45.49 cents per unit,
is in the process of being paid to unitholders that did not elect to receive the
unit distribution. The Manager hereby advises unitholders who will receive the
income distribution of 45.49 cents per unit that, for taxation purposes 40.93
cents per unit will be classified as a net property income distribution and the
remaining 4.56 cents as a net foreign income distribution, which have different
tax implications for unitholders. Unitholders are therefore encouraged to
consult their professional tax advisors with regard to their tax liability in
this regard.
Share certificates in respect of the unit distribution units have been posted to
certificated unitholders on Monday, 21 July 2008, and cheques in respect of the
income distribution entitlements are in the process of being posted. The
CSDP/broker accounts of unitholders holding dematerialised units have been
updated and are in the process of being credited, according to the election
made.
An adjustment to the maximum number of unit distribution units listed will be
made on Wednesday, 23 July 2008.
By order of the board of the Manager
Cape Town
21 July 2008
Designated adviser
PSG Capital (Pty) Limited
Date: 22/07/2008 08:32:01 Produced by the JSE SENS Department.
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