To view the PDF file, sign up for a MySharenet subscription.

RESILIENT REIT LIMITED - Pre-close update

Release Date: 25/11/2019 10:55
Code(s): RES RES41 RES40 RES38 RES35     PDF:  
 
Wrap Text
Pre-close update

RESILIENT REIT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/016851/06)
JSE share code: RES ISIN: ZAE000209557
Bond company code: BIRPIF
(Approved as a REIT by the JSE)
(“Resilient” or the “Company”)


PRE-CLOSE UPDATE


Resilient is meeting shareholders before the commencement of its closed period on 1 January 2020, pending
release of its results for the six months ending 31 December 2019.

The information relevant to Resilient’s pre-close discussions with shareholders is summarised below:

   -   Resilient is in discussions with third parties to sell six property assets.
   -   Resilient’s strategy is to continue increasing its offshore exposure, while maintaining its conservative
       gearing and hedging policies. Consistent with this strategy, Resilient will follow its rights in the rights
       offer that is currently underway by Lighthouse Capital.
   -   Resilient only includes in its distributable earnings 59,1% of the basic rental from Edgars, Edgars
       Beauty, Mac and Jet stores.
   -   Resilient confirms its guidance of approximately 5% growth in dividends per share for FY2020. The
       forecast on which this guidance is based has not been reviewed by the Company’s auditors.
   -   The FSCA has confirmed that the investigation of allegations relating to manipulation of the Resilient
       share price by market participants is ongoing, is not into the affairs of Resilient and is anticipated to
       be finalised early in 2020.

25 November 2019


Sponsor
Java Capital

Date: 25-11-2019 10:55:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story