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Market Update and Future Prospects
VUNANI PROPERTY INVESTMENT FUND LIMITED
(Granted REIT status by the JSE)
(Incorporated in the Republic of South Africa)
(Registration number 2005/019302/06)
JSE code: VPF
ISIN: ZAE000157459
(“the company” or “VPIF”)
MARKET UPDATE AND FUTURE PROSPECTS
Unitholders are referred to the trading statement issued on 31
May 2013 in which the company stated that it anticipates the
distribution per linked unit for the 6 months ending 30 June
2013 to be between 36.5 cents and 38.5 cents and for the 12
months ending 30 June 2013 to be between 75 cents and 77 cents.
Having regard to the current Market conditions and the impending
rights offer, the directors believe it appropriate to comment
on the company’s future prospects as follows:
Despite the uncertain economic outlook, highly competitive
property landscape and upward pressure on administration and
operating costs, the Board anticipates distributions for the
next 12 months to 30 June 2014 to be between 84 and 86 cents
per linked unit for the existing portfolio. This information is
based on the assumptions that the macro-economic environment
will remain stable, no major corporate failures will occur,
budgeted renewals will be concluded and that clients will be
able to absorb the recovery of the rising rates and utility
costs. Budgeted rental income is based on contractual
escalations and market related renewals.
The information and opinions contained above are expressed in
good faith and are based upon sources believed to be reliable.
However, due to the nature of forward looking projections, no
representation, warranty, undertaking or guarantee of whatever
nature is made or given concerning the accuracy and/or
completeness of such information and/or the correctness of such
opinions. The guidance provided relating to the company’s
expected future distributions has not been reviewed or reported
on by the company’s auditors.
The company’s financial results for the year ending 30 June
2013 will be released on or about 26 August 2013.
Sandton
28 June 2013
Sponsor
Grindrod Bank Limited
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