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JSE FCPD
FCPD
FCPD - Foord Compass Limited - Results of Annual General Meeting of
debenture holders
FOORD COMPASS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003591/06)
ISIN: ZAE000054466
JSE code: FCPD
("Foord Compass" 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, held at 7 Forest Mews, Forest Drive, Pinelands today, the special
resolution proposed at the meeting was 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 4 April 2012 disclosing a net attributable asset value per debenture
("NAAV") of 808.1 cents as at 31 March 2012. That statement noted that the
debenture NAAV had increased by 7.8% during the first quarter of 2012.
The most recent effective asset allocation of the portfolio is as follows
(31 December 2011 reflected as comparative information):
Domestic Foreign Total
Current 31.12.2011 Current 31.12.2011 Current 31.12.2011
Equities 44% 63% 16% 22% 60% 85%
Listed 1% 6% 0% 0% 1% 6%
property
Governmen -34% -34% -10% -11% -44% -45%
t bonds
Corporate 7% 8% 17% 16% 24% 24%
debt
Commoditi 0% 0% 3% 3% 3% 3%
es
Effective 32% 7% 24% 20% 56% 27%
cash
50% 50% 50% 50% 100% 100%
The effective exposure to equities is lower as a result of sales of selected
equity counters with the consequent increase in the effective cash position.
The listed property holdings were reduced on profit taking during the
quarter.
The lower net equity exposure is a short-term tactical measure as equities
remain the asset class of choice. The portfolio retains substantial upside
optionality through index linked call options on the South African equity
market. The net exposure to physical shares amounts to approximately 39% of
portfolio across the domestic and foreign portfolios.
Further information will be released in July with the publication of the
company`s Interim Financial Statements in respect of the six months ending
30 June 2012.
Cape Town
19 April 2012
Sponsor
One Capital
Date: 19/04/2012 13:40:01 Produced by the JSE SENS Department.
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