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 16 March 2004. In total 5 063 300 Resilient
linked units were placed with independent public unitholders on 24 November
2004, at an issue price of R7,90 (R7,54 ex-distribution). Units were issued at a
0,6% premium to the 30 day weighted average price calculated on 19 November
2004. This is equivalent to a 4% 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 2004.
In total, R40 million was raised in cash, being R1,8 million in pre-paid
distribution and the balance in capital. The issue increases linked units in
issue from 117 955 084 to 123 018 384.
The cash proceeds from the general issue of units will be used to fund the
recent acquisition of the Pick `n Pay Nelspruit property.
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
30 November 2004
Investment bank and sponsor
Nedbank Capital
Date: 30/11/2004 04:33:10 PM Produced by the JSE SENS Department
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