| Wed 16 Feb 2005, 16:29 | | IFOUR DELIVERS ON ITS PROMISES |
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IFOUR PROPERTIES LTD - IFOUR DELIVERS ON ITS PROMISES
PRESS RELEASE:
iFour Properties Ltd
Incorporated in South Africa
Share code: IFR
Registration number: 2001/016118/06
ISIN Code: ZAE000039236
iFour delivers on its promises
Listed property loan-stock company, iFour, continues to deliver on its promise
of `sustainable growth in distributions to unitholders`. James Nunes, CEO of
iFour, is pleased to announce that a distribution of 39 cents per linked unit
has been declared for the period ended 31 December 2004. This is an increase of
5% over the comparable period of the previous year.
`We have consolidated iFour`s position to deliver into the future by increasing
the value of the portfolio from R0,7 million just over a year ago to the current
R1,8 billion. Strategic acquisitions have enabled iFour to achieved a more
balanced usage spread with retail now making up 29% and industrial 34% by value
of the portfolio` said Nunes.
In addition, the company successfully implemented the first Commercial Backed
Securitisation Program in South Africa in November 2004. This form of funding,
which reduces the costs of debt finance, underpins iFour`s ability to sustain
returns to linked unit holders in the longer term. The iFour securitisation
programme has been selected as one of the UK magazine`s The Banker`s `Deals of
the Year 2005`. The award recognises this transaction as one of the best
financial transactions executed in 2004 in 48 countries around the world.
`We anticipate that distribution for the year 2005 will be 82 cents as
previously stated in the company`s annual report,` said Nunes.
Ends
16 February 2004
Issued on behalf of iFour
Contact: James Nunes, Managing Director
Tel: (011) 889 8700 or 082 455 2283
For further information, please contact Corporate Communications Consultants
Contact: Debbie Brewitt
Tel: (011) 783 8926 or 084 616 7000
About iFour
iFour is a property investment company, which listed on the JSE on 10 June 2002.
Its diversified portfolio of commercial, retail and office properties, was
valued at over R1,8 billion in December 2004.
The company`s assets are spread over four provinces - Gauteng, the Western Cape,
KwaZulu Natal and the Free State. Pangbourne owns a 48% stake in iFour, and
also conducts the company`s property management.
iFour`s vision is to become a R2 billion market cap company, offering
shareholder spread, liquidity and security of earnings.
iFour combines innovation, quality and service integrity to provide investors
with the opportunity to participate in a well structured, professionally
managed, property investment portfolio that yields sustainable returns.
Date: 16/02/2005 03:36:32 PM
Produced by the JSE SENS Department
