OASIS CRESCENT PROPERTY FUND - Results Announcement in respect of the Unit Distribution

Results Announcement in respect of the Unit Distribution

Oasis Crescent Property Fund
A property fund created under the Oasis Crescent Trust Scheme
registered in terms of the Collective Schemes Control Act (Act
45 of 2002)
JSE code: OAS
ISIN: ZAE000074332
(“OCPF” or “the Fund”)

RESULTS ANNOUNCEMENT IN RESPECT OF THE UNIT DISTRIBUTION

Unitholders are referred to the SENS announcement of Wednesday,
8 May 2013, where it was announced that a unit distribution of
2.75 units at 1 587.26 cents per unit (in aggregate), for every
100 units held (“Unit Distribution”), in respect of the 6
months ended 31 March 2013, had been declared to unitholders
recorded in the register of OCPF at close of business on Friday,
31 May 2013, with the election to receive an income distribution
of 4 372.23 cents (in aggregate) after non-permissible income,
for every 100 units (“Income Distribution”) held at close of
business on Friday, 31 May 2013, in lieu of the Unit
Distribution.

The total Unit Distribution comprises of three different unit
distributions, namely the Property Unit Distribution, the
Offshore Dividend Unit Distribution and the Domestic Permissible
Investments Unit Distribution.

The directors of Oasis Crescent Property Fund Managers Limited
(“the Manager”) hereby advise unitholders that the closing date
and time for the Unit Distribution was 12:00pm on Friday, 31 May
2013.

The table below sets out the number of units to be issued to
unitholders in terms of the Unit distribution who have not
elected to receive the Income Distribution:

Unit Distribution      Number of units held   New units issued
                         by unitholders who
                        have not elected to
                         receive the Income
                            Distribution

Property        Unit         40 687 892            911 408
Distribution
Offshore    Dividend       40 717 805              122 153
Unit Distribution
Domestic                   40 717 805              85 508
Permissible
Investments     Unit
Distribution
Total                      122 123 502           1 119 069

Accordingly 1 119 069 new units in OCPF have been issued to the
unitholders that have not elected to receive the Income
Distribution.

In respect of the Unit Distribution (and concomitant Income
Distribution), the Manager hereby advises unitholders who will
receive the Unit Distribution that, for taxation purposes the
property unit distribution, offshore dividend unit distribution
and domestic permissible investments unit distribution have
different tax implications for unitholders as a result of such
distributions being classified as either a net property
distribution, net foreign income distribution or net domestic
income distribution and accordingly the provisions of dividend
tax will not be applicable.

The Income Tax Act sections applicable to the distributions made
are as follows:

  - Property Income Distribution –section 10(k)
  - Offshore dividend income distribution – section 10(i)
  - Domestic permissible investments income distribution –
    section 10(k)
  - Realised gain in domestic permissible investments income
    distribution – 8th Schedule of the Income Tax Act

The Manager therefore advises unitholders to consult their
professional tax advisors with regard to their tax liability in
this regard.

Share certificates in respect of the Unit Distribution will be
posted out to certificated unitholders on or about Monday, 3
June 2013, and cheques in respect of the Income Distribution are
in the process of being posted.

The CSDP/broker accounts of unitholders holding dematerialised
units have been updated and are in the process of being
credited, according to the elections made.

An adjustment to the maximum number of Unit Distribution units
listed will be made on or about Wednesday, 5 June 2013.

By order of the board of the Manager

3 June 2013
Cape Town
Designated Advisor
PSG Capital

Date: 03/06/2013 05:15:00 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.