| Wed 11 Mar 2009, 16:42 | | RES - Resilient - General issue of linked units for cash |
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RES
RES
RES - Resilient - General issue of linked units for cash
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")
GENERAL ISSUE OF LINKED UNITS FOR CASH
INTRODUCTION
Linked unitholders are advised that Resilient has completed a general issue of
units for cash (the "issue for cash") in terms of the general authority granted
by members at the annual general meeting held on Wednesday, 23 April 2008 (the
"general authority"). In total 13,639,926 Resilient linked units have been
placed with independent public unitholders in terms of the general authority, as
follows: 4,651,162 on 19 December 2008 at R21.50 per linked unit (a premium of
0.09% to the volume weighted average trading price ("VWAP") for the 30 days
prior to the date on which the general issue was agreed, being 4 December 2008
and 8,988,764 on 12 March 2009 at R22.25 per linked unit (a 4.18% discount to
the VWAP for the 30 days prior to the date on which the general issue was
agreed, being 26 February 2009.
PRO FORMA FINANCIAL EFFECTS
The pro-forma financial effects of the general authority issues set out in the
table below are the responsibility of Resilient`s directors and have been
prepared for illustrative purposes only, to show how the general authority
issues may have effected the company`s published audited financial statements
for the year ended 31 December 2008. 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.
Before the After the Change
general general
authority authority
issues issues
Net asset value - cpu 1,942 1,953 0.5%
Net tangible asset value - cpu 1,931 1,942 0.6%
Basic earnings per share - cpu 62.26 61.05 (1.9%)
Basic earnings per linked unit - cpu 232.41 240.96 3.7%
Diluted earnings per share - cpu 59.42 58.32 (1.9%)
Diluted earnings per linked unit - cpu 221.83 230.19 3.8%
Headline earnings per linked unit - cpu 131.89 142.39 8.0%
Diluted headline earnings per linked unit 125.89 136.03 8.1%
- cpu
Notes:
The amounts set out in the "Before the general authority issues" column have
been extracted from the audited financial statements of Resilient for the year
ended 31 December 2008.
NAV per linked unit and NTAV per linked unit, as set out in the "After the
general authority issues" column, reflect what the NAV per linked unit and NTAV
per linked unit at 31 December 2008 would have been had the effective date of
the general authority issues been 31 December 2008.
Distributions per linked unit, earnings per linked unit ("EPLU"), diluted
earnings per linked unit ("DEPLU") and Headline earnings per linked unit
("HEPLU"), as set out in the "Pro forma after the general authority issues"
column, reflect what the distribution per linked unit, EPLU, DEPLU and HEPLU for
the year ended 31 December 2008 would have been had the effective date of the
general authority issues been 1 January 2008.
11 March 2008
Sponsor
Java Capital (Proprietary) Limited
Date: 11/03/2009 16:42:07 Produced by the JSE SENS Department.
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