| Mon 24 Nov 2008, 17:16 | | OAS - Oasis Crescent Property Fund - Results Announcement In Respect Of The |
|
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 28 October 2008 and 12
November 2008 where it was announced that an income distribution, after non-
permissible income, of 51.29 cents per unit (in aggregate), in respect of the 6
months ending 30 September 2008, had been declared to unitholders recorded in
the register of OCPF at close of business on Friday, 21 November 2008, with the
election to receive a unit distribution of 4.57 units, at 1120 cents per unit
(in aggregate), for every 100 units held at close of business on Friday, 21
November 2008, in lieu of the income distribution.
The total income distribution comprises of four different income distributions
namely the property income distribution, the offshore dividend income
distribution, the offshore permissible investments income distribution and the
domestic permissible investments 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, 21 November 2008 and that elections to receive the unit distribution
were received from unitholders holding 25 233 339 units in respect of the
property income distribution and 25 232 301 units in respect of the offshore
dividend income distribution, the offshore permissible investments income
distribution and the domestic permissible investments income distribution.
Accordingly 1 153 154 new units in OCPF have been issued to the unitholders that
elected to receive same.
Unitholders were entitled to elect to receive the unit distribution of 4.57
units, at 1120 cents per unit (in aggregate) for every 100 units held at close
of business on Friday, 21 November 2008 in lieu of the four different income
distributions in respect of all or part of the units so held by unitholders on
the record date.
The Manager hereby advises unitholders who will receive the income distribution
of 51.29 cents per unit (in aggregate) that, for taxation purposes, the income
distribution that comprises the four payments will have different tax
implications and be classified as the following:
Income category Classified as (per SARS
reporting purposes)
(i) Property income Interest
(ii) Offshore dividend Dividend income
income
(iii) Offshore permissible Interest income
investment income
(iv) Domestic permissible Interest income
investment income
The Manager therefore advises unitholders to consult their professional tax
advisors with regard to their tax liability in this regard.
Share certificates in respect of the unit distribution units will be posted out
to certificated unitholders tomorrow, Tuesday, 25 November 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, 26 November 2008.
By order of the board of the Manager
Cape Town
24 November 2008
Designated adviser
PSG Capital (Pty) Limited
Date: 24/11/2008 17:16:14 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.
