Resilient Property Income Fund Limited - General I
Resilient Property Income Fund Limited - General Issue Of Linked Units For Cash
Release Date: 15/03/2004 16:58:01 Code(s): RES
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 5 149 706 Resilient
linked units were placed with independent public unitholders on Friday, 12 March
2004, at an issue price of R6,80 (R6,64 ex-distribution). Units were issued at a
3,3% discount to the 30 day weighted average price calculated on 4 March 2004.
This is equivalent to a 5,6% 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 30 June 2004.
In total, R35 million was raised in cash, being R0,8 million in pre-paid
distribution and the balance in capital. The issue increases linked units in
issue from 89 420 953 to 94 570 659. Resilient has applied to the JSE Securities
Exchange South Africa ("JSE") for listing of the additional units with effect
from Wednesday, 17 March 2004.
The cash proceeds from the general issue of units will reduce gearing levels in
the group.
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.
Johannesburg
15 March 2004
Investment bank and sponsor
Nedbank Corporate
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
