| Fri 5 Dec 2003, 15:46 | | CENTRECITY PROPERTY FUND - SECOND DISTRIBUTION AND |
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CENTRECITY PROPERTY FUND -CENTRECITY PROPERTY FUND - SECOND DISTRIBUTION AND REPORT REGARDING FINAL
WINDING UP OF CENPROP
CENTRECITY PROPERTY FUND
("Cenprop")
Share Code: CEN
ISIN No: ZAE000001335
(Collective Investment Scheme in Property in terms of the Collective Investment
Schemes Control Act, No 45 of 2002)
Managed by Property Fund Managers Limited
(Registration No. 1980/009531/06)
("PFM")
SECOND DISTRIBUTION AND REPORT REGARDING FINAL WINDING UP OF CENPROP
Java Capital and Sasfin Corporate Finance, a division of Sasfin Bank Limited are
authorised to announce details of a second winding up distribution ("the second
distribution") to Cenprop unitholders ("unitholders") and to advise unitholders
of the status of the final winding up of Cenprop (the "winding up") and a
potential final winding up distribution ("the final winding up distribution").
As was announced on 25 April 2003, Cenprop retained certain amounts to enable it
to settle actual or potential liabilities and PFM withheld R 10 million in terms
of the disposal agreement between The Rosebank Mall (Pty) Limited and Hyprop
Investments Limited ("the disposal agreement"), to meet any obligations arising
out of the disposal agreement. The above retention by PFM is no longer required
to be held in terms of the disposal agreement and additional cash has been
realised during the winding up process.
Consequently, the directors of PFM have resolved to declare the second
distribution of 8 cents per Cenprop unit payable in cash. After effecting the
second distribution and settling all of Cenprop"s liabilities, any remaining
cash will be distributed to Cenprop unitholders by way of a final winding up
distribution anticipated to be 2 cents per Cenprop unit. The winding up is
expected to be completed by end March 2004 (subject to assessment by the South
African Revenue Services).
The suspension of Cenprop"s listing will remain in effect until it is
terminated.
The salient dates and times relating to the second distribution are set out in
the table below:
Last day - CUM the
second distribution Tuesday, 23 December 2003
Cenprop units EX second
Distribution Wednesday, 24 December 2003
Record date for the second
Distribution Friday, 2 January 2004
Payment date of the second
Distribution Monday, 5 January 2004
Notes:
Unit certificates may not be dematerialised or re-materialised between
Wednesday, 24 December 2003 and Friday, 2 January 2004, both days inclusive.
Johannesburg5 December 2003
Transaction Support to Cenprop:
Java Capital
Corporate law advisers and consultants to Cenprop:
Edward Nathan & Friedland (Pty) Ltd
Sponsor to Cenprop:
Sasfin Corporate Finance, a division of Sasfin Bank Limited
Trustee to Cenprop:
ABSA Bank Limited
Date: 05/12/2003 03:38:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
P
CENTRECITY PROPERTY FUND
("Cenprop")
Share Code: CEN
ISIN No: ZAE000001335
(Collective Investment Scheme in Property in terms of the Collective Investment
Schemes Control Act, No 45 of 2002)
Managed by Property Fund Managers Limited
(Registration No. 1980/009531/06)
("PFM")
SECOND DISTRIBUTION AND REPORT REGARDING FINAL WINDING UP OF CENPROP
Java Capital and Sasfin Corporate Finance, a division of Sasfin Bank Limited are
authorised to announce details of a second winding up distribution ("the second
distribution") to Cenprop unitholders ("unitholders") and to advise unitholders
of the status of the final winding up of Cenprop (the "winding up") and a
potential final winding up distribution ("the final winding up distribution").
As was announced on 25 April 2003, Cenprop retained certain amounts to enable it
to settle actual or potential liabilities and PFM withheld R 10 million in terms
of the disposal agreement between The Rosebank Mall (Pty) Limited and Hyprop
Investments Limited ("the disposal agreement"), to meet any obligations arising
out of the disposal agreement. The above retention by PFM is no longer required
to be held in terms of the disposal agreement and additional cash has been
realised during the winding up process.
Consequently, the directors of PFM have resolved to declare the second
distribution of 8 cents per Cenprop unit payable in cash. After effecting the
second distribution and settling all of Cenprop"s liabilities, any remaining
cash will be distributed to Cenprop unitholders by way of a final winding up
distribution anticipated to be 2 cents per Cenprop unit. The winding up is
expected to be completed by end March 2004 (subject to assessment by the South
African Revenue Services).
The suspension of Cenprop"s listing will remain in effect until it is
terminated.
The salient dates and times relating to the second distribution are set out in
the table below:
Last day - CUM the
second distribution Tuesday, 23 December 2003
Cenprop units EX second
Distribution Wednesday, 24 December 2003
Record date for the second
Distribution Friday, 2 January 2004
Payment date of the second
Distribution Monday, 5 January 2004
Notes:
Unit certificates may not be dematerialised or re-materialised between
Wednesday, 24 December 2003 and Friday, 2 January 2004, both days inclusive.
Johannesburg5 December 2003
Transaction Support to Cenprop:
Java Capital
Corporate law advisers and consultants to Cenprop:
Edward Nathan & Friedland (Pty) Ltd
Sponsor to Cenprop:
Sasfin Corporate Finance, a division of Sasfin Bank Limited
Trustee to Cenprop:
ABSA Bank Limited
Date: 05/12/2003 03:38:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
