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

GROWTHPOINT - DIVIDEND DECLARATION AND DEBENTURE INTEREST PAYMENT

Release Date: 15/08/2001 16:50
Code(s): GRT
Wrap Text
GROWTHPOINT PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/004988/06)
("Growthpoint" or "the company")
(Sharecode GRT)
(ISIN number ZAE 000012712)

DIVIDEND DECLARATION AND DEBENTURE INTEREST PAYMENT
Notice is hereby given of interim dividend declaration number 28 of 0,0063 cents per share and debenture interest payment number 28 of 6,2937 cents per debenture for the period 1 April 2001 to 31 August 2001 ("the first interim distribution") by the directors of Growthpoint. The distribution amounts to 6,3000 cents per Growthpoint linked unit and the last day to trade ("cum" the distribution) in order to participate in the distribution will be Friday, 24 August 2001. The Growthpoint linked units will commence trading "ex" distribution from the commencement of business on Monday, 27 August 2001 and the record date for such distribution will be Friday, 31 August 2001.
Cheques in respect of the first interim distribution will be posted to Growthpoint linked unit holders on or about Monday, 3 September 2001. Growthpoint linked unit holders are referred to the detailed announcement published in the press on 6 July 2001 informing Growthpoint linked unit holders that Growthpoint had entered into an agreement ("the agreement") with Sentinel Mining Industry Retirement Fund ("Sentinel") and Mine
Employees Pension Fund ("MEPF") in terms of which it will acquire a
portfolio of 51 properties from Sentinel and MEPF for a total purchase consideration of R1 539,8 million.
In terms of the agreement, the total purchase consideration will be settled as follows:
* the payment of a cash consideration of R461,9 million, to be financed in terms of debt funding to be obtained from a banking consortium; and
* the balance of R1 077,9 million through the issue to Sentinel and MEPF, in renounceable form, of 1 197 622 222 new Growthpoint linked units at a price of 90 cents per linked unit ("the vendor consideration units").
The transfer of the properties to be acquired in terms of the agreement is expected to take place on or about 31 August 2001 at which time the vendor consideration units will be issued. Accordingly, the vendor consideration units will not be entitled to the first interim distribution referred to above.
It is anticipated that a second interim distribution for the period 1 September 2001 to 31 December 2001 will be declared and paid in February 2002 and that all linked unit holders, including the holders of the vendor consideration units will be entitled to this second interim distribution. A final distribution for the period 1 January 2002 to 30 June 2002 will be declared and paid in August 2002. Johannesburg 15 August 2001 Merchant bank Investec Corporate Finance Investec Bank Limited (Registration number 1969/004763/06) Sponsor Investec Securities Limited
Member of the JSE Securities Exchange South Africa Registration No. 1972/008905/06

Share This Story