| Thu 25 Nov 2004, 13:30 | | DECLARATION OF DIVIDEND AND INTEREST ON DEBENTURES |
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Declaration of dividend and interest on debentures for the year ended 30
September 2004
ATLAS PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/000742/06)
Share code: ATS
ISIN: ZAE000008975
(`Atlas`)
DECLARATION OF DIVIDEND AND INTEREST ON DEBENTURES
for the year ended 30 September 2004
Declaration of final dividend and interest on debentures
Notice is hereby given that a final distribution of 57,334 cents (2003 - 54,076
cents), comprising interest of 57,077 cents (2003 - 54,029 cents) per debenture
and a dividend of 0,257 cents (2003 - 0,047 cents) per share has been declared
in respect of the year ended 30 September 2004. The last date to trade cum
interest and dividend will be Friday,
17 December 2004 and the linked units will commence trading ex interest and
dividend from Monday, 20 December 2004. The record date will be Friday, 24
December 2004 and payment will be made on Tuesday,
28 December 2004. Linked units may not be dematerialised or rematerialised
between Monday, 20 December 2004 and Friday,
24 December 2004, both dates inclusive.
Audited Audited
September September
2004 2003
Distribution for the year
R`000 R`000
Net income distributed to unitholders 63 279 59 628
Consisting of:
Debenture interest 62 931 59 374
Dividend 348 254
Linked units in issue 63 784 922 63 784 922
cents cents
Total distribution per linked unit 99,207 93,482
Consisting of:
Debenture interest 98,662 93,084
Dividend 0,545 0,398
Made up as follows:
Interim distribution per linked unit
paid on 28 June 2004 41,873 39,406
Consisting of:
Debenture interest 41,585 39,055
Dividend 0,288 0,351
Final distribution per linked unit to be
paid on 28 December 2004 57,334 54,076
Consisting of:
Debenture interest 57,077 54,029
Dividend 0,257 0,047
Net tangible asset value per linked unit 915 804
In terms of the requirements of the JSE Securities Exchange South Africa, the
following additional information is provided:
R`000 R`000
Consolidated profit before taxation** 88 090 61 171
** The comparative figure has reduced by R14 000 as a result of the group
changing its accounting policy with respect to accounting for The Atlas Employee
Trust. The group now consolidates the trust.
Comments
The distribution for the year at 99,207 (2003 - 93,482) cents per unit is 6,1%
higher than the previous year. This is in line with the consistent growth
pattern achieved over the past ten years since the current management team has
been in place, from which date total returns to unitholders, including income
and capital growth, have been 21% per annum compounded.
Atlas and its unitholders benefit from having an internal wholly-owned
management structure, thereby eliminating conflict of interests, and also by
virtue of a share incentive scheme whereby its employees participate in the
growth of the company.
Building vacancies were 4,2% of rentable area (2003 - 10,2%), or 2,5% of gross
rental income (2003 - 4,9%).
Barring unforeseen circumstances, Atlas should continue to provide increased
earnings to unitholders for the forthcoming year.
Full details of the final results will be available in the Annual Report to be
posted to unitholders on or before 24 December 2004.
By order of the Board
Atlas Management Services (Pty) Ltd
Secretaries
Cape Town
25 November 2004
Registered address: 121 Roodebloem Road, Woodstock, 7925
Transfer Secretaries: Computershare Investor Services 2004 (Pty) Ltd,
70 Marshall Street, Johannesburg, 2001
Date: 25/11/2004 01:00:04 PM
Produced by the JSE SENS Department
