Sycom Property Fund - Further Announcement Regardi
Sycom Property Fund - Further announcement regarding the acquisition of
properties
SYCOM PROPERTY FUND
("Sycom" )
A unit trust scheme in property shares registered in terms of the Unit Trusts
Control Act, No 54 of 1981
and managed by NIB Property Fund Managers Limited (Registration number
1986/002756/06)
Further announcement regarding the acquisition of properties
Unitholders are referred to the unaudited group results for the six months ended
30 June 2002, published on 1 August 2002, which referred to the acquisition by
Sycom of five office properties for an aggregate consideration of R212,8 million
("purchase price"). As set out in the interim results announcement, a book
build exercise to place Sycom units with selected institutions was undertaken in
conjunction with Nedcor Investment Bank. This exercise has resulted in the
issue, on 19 August 2002, of 22 797 998 new Sycom units at an issue price of
R7,80 per unit, thereby raising R177,8 million. Sycom`s issued unit capital
after the issue of these units equals 169 598 000 units of no par value. The
balance of the purchase price will be settled by drawing down from a
R400 million facility recently granted to Sycom.
Johannesburg
19 August 2002
Investment bank and sponsor Asset manager
Nedcor Investment Bank Coronib Property Asset Managers
Date: 19/08/2002 05:40:00 PM Produced by the JSE SENS Department
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