|
FFA FFB
FORT
FFA/FFB - Fortress Income Fund Limited - General issue of linked units for cash
FORTRESS INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)
Registration number 2009/016487/06
Share codes: FFA ISIN: ZAE000141313
FFB ISIN: ZAE000141321
("Fortress")
GENERAL ISSUE OF LINKED UNITS FOR CASH
INTRODUCTION
Linked unitholders are advised that Fortress has completed a general issue of
units for cash in terms of the general authority granted by members at the
general meeting held on 27 October 2010("issue for cash"). In total 10 250 000
Fortress A linked units and 10 250 000 Fortress B linked units were placed with
independent public unitholders on Wednesday 30 March 2011 ("issue for cash
units"). The issue for cash units were issued at an issue price of R10.80 per A
linked unit (equal to a 2.4% discount to the weighted average traded price for
the 30 business days prior to 24 March 2011, the date that the price of the
issues was agreed between the issuer and the parties subscribing for the linked
units) and an issue price of R2.80 per B linked unit (equal to a 2.3% premium to
the weighted average traded price for the 30 business days prior to 24 March
2011, the date that the price of the issues was agreed between the issuer and
the parties subscribing for the linked units).
PRO FORMA FINANCIAL EFFECTS
The pro forma financial effects of the issue for cash set out in the table below
are the responsibility of the Fortress directors and have been prepared for
illustrative purposes only, to show how the issue for cash may have affected the
company`s published unaudited interim financial results for the six months ended
31 December 2010.
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 issue for cash.
Before the Pro forma Change
issue for after the
cash issue for
cash
Earnings per A linked unit (cents) 5.36 5.12 (4.4)%
Earnings per B linked unit (cents) 5.36 5.12 (4.4)%
Headline earnings per B linked unit 10.86 10.42 (4.0)%
(cents)
Distribution per B linked unit 6.04 5.82 (3.7)%
(cents)
Weighted average A linked units in 220 750 000 231 000 000
issue
Weighted average B linked units in 220 750 000 231 000 000
issue
Notes:
1. The amounts set out in the "Before the issue for cash" column have been
extracted from the unaudited interim financial results of Fortress for the
six months ended 31 December 2010.
2. The effect on NAV and NTAV per A and B linked unit is not material and has
not been disclosed.
3. The effect on distribution per A linked unit is not material and has not
been disclosed. Distributions per B linked unit as set out in the "Pro
forma after the issue for cash" column reflect what the distribution per B
linked unit would have been had the effective date of the issue for cash
been 1 July 2010.
4. The effect on headline earnings per A linked unit is not material and has
not been disclosed. Headline earnings per B linked unit as set out in the
"Pro forma after the issue for cash" column reflect what the headline
earnings per B linked unit would have been had the effective date of the
issue for cash been 1 July 2010
5. For the purposes of the pro forma financial effects it has been assumed
that the proceeds from the issue for cash were used to reduce interest-
bearing borrowings at an interest rate of 7.62%.
1 April 2011
Sponsor
Java Capital
Date: 01/04/2011 17:30:01 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.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
