| Mon 4 Jun 2012, 15:56 | | OAS - Oasis Crescent Property Fund - Results announcement in respect of the unit |
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OAS
OAS
OAS - Oasis Crescent Property Fund - Results announcement in respect of the unit
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 UNIT DISTRIBUTION
Unitholders are referred to the SENS announcement of Wednesday, 9 May 2012,
where it was announced that an unit distribution of 3.05 units at 1439.43 cents
per unit (in aggregate), for every 100 units held ("Unit Distribution"), in
respect of the 6 months ended 30 March 2012, had been declared to unitholders
recorded in the register of OCPF at close of business on Friday, 1 June 2012,
with the election to receive an income distribution of 4 399.22 cents (in
aggregate) after non-permissible income, for every 100 units ("Income
Distribution") held at close of business on Friday, 1 June 2012, in lieu of the
Unit Distribution.
The total Unit Distribution comprises of three different unit distributions,
namely the Property Unit Distribution, the Offshore Dividend Unit Distribution
and the Domestic Permissible Investments Unit Distribution.
The directors of Oasis Crescent Property Fund Managers Limited ("the Manager")
hereby advise unitholders that the closing date and time for the Unit
Distribution was 12:00pm on Friday, 1 June 2012.
The table below sets out the number of units to be issued to unitholders in
terms of the Unit distribution who have not elected to receive the Income
Distribution:
Unit Distribution Number of units held New units issued
by unitholders who
have not elected to
receive the Income
Distribution
Property Unit 38 638 982 935 065
Distribution
Offshore Dividend 38 653 982 158 482
Unit Distribution
Domestic 38 643 982 85 018
Permissible
Investments Unit
Distribution
Total 1 178 565
Accordingly 1 178 565 new units in OCPF have been issued to the unitholders that
have not elected to receive the Income Distribution.
In respect of the Unit Distribution (and concomitant Income Distribution), the
Manager hereby advises unitholders who will receive the Unit Distribution that,
for taxation purposes the property unit distribution, offshore dividend unit
distribution and domestic permissible investments unit distribution have
different tax implications for unitholders as a result of such distributions
being classified as either a net property distribution, net foreign income
distribution or net domestic income distribution and accordingly the provisions
of dividend tax will not be applicable.
The Income Tax Act sections applicable to the distributions made are as follows:
Property Income Distribution -section 10(k)
Offshore dividend income distribution - section 10(i)
Domestic permissible investments income distribution - section 10(k)
Realised gain in domestic permissible investments income distribution - 8th
Schedule of the Income Tax Act
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 will be posted out to
certificated unitholders on or about Monday, 4 June 2012, and cheques in respect
of the Income Distribution 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 elections
made.
An adjustment to the maximum number of Unit Distribution units listed will be
made on or about Wednesday, 6 June 2012.
By order of the board of the Manager
4 June 2012
Cape Town
Designated AdvisorPSG Capital (Pty) Limited
Date: 04/06/2012 15:56:01 Produced by the JSE SENS Department.
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