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Updated guidance and trading statement
ARROWHEAD PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2011/000308/06)
JSE share code: AWA ISIN: ZAE000203105
(Approved as a REIT by the JSE)
(“Arrowhead” or the “Company”)
UPDATED GUIDANCE AND TRADING STATEMENT
On 6 March 2019 Arrowhead announced that, after taking into account the effect of Edcon’s proposed recapitalisation and
restructuring program, it expected its dividend for the year ending 30 September 2019 to be 57.73 cents per share, excluding
any contribution attributed to its holding of shares in Rebosis Income Fund Limited (“Rebosis”) (which it had estimated to
be around 7c (but suggested investors put in their own forecast given some of the risks and uncertainty).
Arrowhead’s direct property portfolio has continued to trade well, and in line with expectations, in difficult circumstances.
However, on 3 May 2019 Indluplace Properties Limited (“Indluplace”) – in which Arrowhead has a 60% interest – released
an announcement advising that Indluplace’s dividends per share for the year ending 30 September 2019 were expected to be
down by approximately 20% from the prior year (as compared to its previous guidance of a reduction of up to 10%).
This reduction in Indluplace’s guidance will have a relatively small impact on Arrowhead’s previous distribution guidance
and Arrowhead now anticipates that its dividend per share for the year ending 30 September 2019 will be approximately 56
cents per share (again excluding any contribution from Rebosis).
In line with this full year guidance, Arrowhead anticipates that the dividend for the six months ended 31 March 2019,
excluding any contribution from Rebosis, will be approximately 27.8 cents per share.
The information on which this updated guidance and trading statement have been based has not been reviewed or reported
on by the Company’s auditors.
Arrowhead’s results for the six months ended 31 March 2019 will be announced on SENS on 29 May 2019.
6 May 2019
Investment Bank and Sponsor
Investec Bank Limited
Date: 06/05/2019 08:37:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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