RESILIENT PROPERTY INCOME FUND LIMITED - GENERAL ISSUE OF LINKED UNITS FOR CASH
Resilient Property Income Fund Limited
(Incorporated in the Republic of South Africa)
Registration number 2002/016851/06
Share code: RES ISIN: ZAE000043642
("Resilient" or "the company")
GENERAL ISSUE OF LINKED UNITS FOR CASH
Linked unitholders are advised that Resilient has completed a general issue of
units for cash in terms of the general authority granted by members at the
annual general meeting held on 5 September 2003. In total 6 015 000 Resilient
linked units were placed with independent public unitholders on Friday, 5
December 2003, at an issue price of R6,65 (R6,30 ex-distribution). Units were
issued at a 0,7% discount to the 30 day weighted average price calculated on 18
November 2003. This is equivalent to a 6% discount to the ex-distribution price.
Additional units will rank pari passu with existing units in issue, including
the right to a distribution for the period ending 31 December 2003.
In total, R40m was raised in cash, being R2.13m in pre-paid distribution and the
balance in capital. The issue increases linked units in issue from 83 405 953 to
89 420 953. Resilient has applied to the JSE Securities Exchange South Africa
("JSE") for listing of the additional units with effect from Wednesday, 10
December 2003.
The purpose of the placing is to fund recent acquisitions while maintaining
target gearing levels.
The issue of additional units will not have a material effect on headline
earnings, distribution or net asset value per linked unit and financial effects
are, therefore, not included.
9 December 2003
Investment bank and sponsor
Nedbank Corporate
Date: 09/12/2003 04:59:02 PM
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