FCPD - Foord - Results Of Annual General Meeting Of Debenture Holders
JSE FCPD
FCPD
FCPD - Foord - Results Of Annual General Meeting Of Debenture Holders
FOORD COMPASS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003591/06)
JSE code: FCPD
ISIN: ZAE000054466
("Foord" or "the company")
RESULTS OF ANNUAL GENERAL MEETING OF DEBENTURE HOLDERS
The board of directors advise that at the annual general meeting of Foord
Compass Limited Debenture Holders, held at 7 Forest Mews, Forest Drive,
Pinelands today, the special resolutions proposed at the meeting were duly
passed by the requisite majority of votes.
The board of directors released the following statement to debenture holders
at the meeting:
"Debenture holders are referred to the company`s SENS announcement released on
3 April 2009 disclosing a net attributable asset value per debenture ("NAAV")
of 663.4 cents as at 31 March 2009. That statement noted that the debenture
NAAV had declined by 3.2% during the first quarter of 2009.
The investment environment continues to be challenging and we expect further
volatility in asset prices over the second quarter of 2009. The portfolio
achieved net gains in April despite a fall in SA bond yields and the strong
appreciation of the rand during the month.
The effective asset allocation of the portfolio remains similar to the
structure disclosed as at 31 December 2008. The company`s effective South
African equity exposure was however reduced into the March / April share
rally. The foreign asset position has been further diversified during the
course of the year as the manager has made use of attractive opportunities in
foreign corporate debt and listed property markets.
The portfolio still enjoys a material cash weighting which may be utilised to
take advantage of opportunities in the local equity market during the course
of the year."
Cape Town
5 May 2009
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 05/05/2009 16:38:02 Produced by the JSE SENS Department.
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