|Shareholders are advised that at the annual general meeting of shareholders held on Friday, 27 July 2018 (in terms of the notice dispatched on 18 June 2018) all the resolutions tabled thereat were passed by the requisite majority of shareholders.|
|Shareholders are advised that Castleview?s integrated report, incorporating the audited annual financial statements for the eight months ended 28 February 2018 (on which the company?s auditors expressed an unmodified audit opinion), was posted on the company?s website, www.castleview.co.za, on Monday, 18 June 2018, and contains no changes from the provisional summarised reviewed consolidated financial statements for the eight months ended 28 February 2018 which were released on SENS on 17 May 2018.|
The integrated report contains a notice of annual general meeting for Castleview shareholders, which will be held at Noland House, River Park, River Lane, Mowbray, Cape Town on Friday, 27 July 2018 at 10:00. The last day to trade in order to be eligible to participate in and vote at the annual general meeting is Tuesday, 17 July 2018 and the record date for voting purposes is Friday, 20 July 2018.
Shareholders are advised that a further announcement in respect of the publication of the company?s Broad-Based Black Economic Empowerment annual compliance report will be released in due course.
|The current reporting period is eight months, as the company was incorporated on 6 July 2017. No comparative figures have been presented as these are the first provisional summarised reviewed consolidated financial statements for the group. Revenue was recorded at R17.8 million, operating profit was R7.7 million and profit attributable to owners of the parent came to R3.8 million. Furthermore, headline earnings per share was 4.5 cents per share.|
Payment of dividend
The board has approved and notice is hereby given of the final gross dividend of 16.71996 cents per share for the eight months ended 28 February 2018.
Castleview will continue to focus on a disciplined approach to the management of its existing asset and the growth of the portfolio in order to return growth in capital and income to shareholders.
|Shareholders are advised that the company anticipates that its dividend per share for the eight months ended 28 February 2018 will be 16.7 cents per share, being 39.17% higher than the forecast dividend per share of 12 cents per share published in Castleview's pre-listing statement issued on 13 December 2017 ("forecast dividend").|
The variance relates to the board recommending that net income, previously forecast to be retained, will now be distributed as part of the dividend.
The financial results of Castleview for the eight months ended 28 February 2018 will be published on or about 17 May 2018.
|Castleview is a newly incorporated company and has been established for the purpose of creating a newly listed company which will acquire and/or develop properties either directly or indirectly through subsidiaries with a strategy of investing in a diversified portfolio of retail properties in South Africa, providing exposure to consumers from a cross-section of income categories, and accordingly does not have a trading history.|
Castleview, through its major subsidiary, FEC Prop, holds the property being Pier 14, which is newly acquired. Pier 14 was acquired by Castleview One, a wholly-owned subsidiary of Castleview, through a subscription for shares in FEC Prop, which owns the property, such that Castleview One owns 99.99% of the issued shares in FEC Prop (its only asset) with effect from 2 October 2017.