SYC
Sycom Property Fund - Cautionary announcement
Sycom Property Fund Managers Limited
A Collective Investment Scheme in property registered in terms of the Collective
Investment Schemes Control Act, No 45 of 2002 and managed by Sycom Property Fund
Managers Limited (Registration number 1986/002756/06)
("Sycom" or "the Fund")
JSE share code: SYC
ISIN: ZAE000019303
Cautionary announcement
Unitholders are advised that Sycom has concluded agreements for:
the acquisition of two land holdings for R36 million and the development thereof
at a combined cost of R294 million; and
investments totalling R174 million into two of its existing properties.
These acquisitions, developments and investments will be funded by a combination
of equity, to be raised through a unit placement and debt. While this will not
have a material effect on the Fund"s earnings for the current year, once
finalised, this may have an effect on the price of Sycom units on the JSE
Securities Exchange SA.
Unitholders are therefore warned to exercise caution when dealing in their Sycom
units until full details of the acquisitions, developments, investments and the
funding thereof are announced.
Johannesburg
8 August 2003
Investment bank and sponsor Asset manager
Nedbank Corporate Corovest-NIB Property Asset Managers (Pty) Limited
Date: 08/08/2003 08:35:03 AM Produced by the JSE SENS Department
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