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OAS - Oasis Crescent Property Fund - Results announcement in respect of the income 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 INCOME DISTRIBUTION Unitholders are referred to the SENS announcements of 11 and 20 May 2011, where it was announced that an income distribution, after non-permissible income of 4 616.40 cents (in aggregate) for every 100 units held ("Income Distribution"), in respect of the 6 months ended 31 March 2011, had been declared to unitholders recorded in the register of OCPF at close of business on Friday, 3 June 2011, with the election to receive a unit distribution of 3.35 units, at 1 376 cents per unit (in aggregate), for every 100 units ("Unit Distribution") held at close of business on Friday, 3 June 2011, in lieu of the Income Distribution. The total Income Distribution comprises of three different income distributions, namely the Property Income Distribution, the Offshore Dividend Income Distribution and the Domestic Permissible Investments Income Distribution. The directors of Oasis Crescent Property Fund Managers Limited ("the Manager") hereby advise unitholders that the closing date and time for the election of the unit distribution was 12:00pm on Friday, 3 June 2011. The following elections to receive the unit distribution were received from unitholders in respect of the three different income distributions: Income Distribution Number of units held New units issued by unitholders who elected to receive the unit distribution
Property Income 34 160 380 987 236 Distribution Offshore Dividend 34 160 380 116 144 Income Distribution Domestic Permissible 34 160 054 40 996 Investments Income Distribution Total 1 144 376 Accordingly 1 144 376 new units in OCPF have been issued to the unitholders that elected to receive same. In respect of the Income Distribution, the Manager hereby advises unitholders who will receive the Income Distribution that, for taxation purposes, SARS regards the income distribution as being "interest income" (as defined by SARS). Therefore the property income distribution, offshore dividend income distribution and domestic permissible investments income 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. 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, 6 June 2011, 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, 8 June 2011. By order of the board of the Manager 6 June 2011 Cape Town Designated Advisor PSG Capital (Pty) Limited Date: 06/06/2011 15:20:00 Supplied by www.sharenet.co.za 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.
