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CAPITAL PROPERTY FUND - Update in respect of internalising management of Capital

Release Date: 27/02/2014 16:37
Code(s): CPL     PDF:  
Wrap Text
Update in respect of internalising management of Capital

CAPITAL PROPERTY FUND
(a portfolio in Capital Property Trust Scheme, a collective
investment scheme in property registered as such in terms of the
Collective Investment Schemes Control Act, No. 45 of 2002)
(Approved as a REIT by the JSE)
JSE share code: CPL ISIN: ZAE000001731
(“Capital”)
Managed by Property Fund Managers Limited
(Registration number 1980/009531/06)
(“PFM”)


UPDATE IN RESPECT OF INTERNALISING MANAGEMENT OF CAPITAL


Capital unitholders are referred to the previous announcements, the last of which was published on SENS on
29 November 2013, relating to a proposed restructure (“the proposed restructure”) in terms of which Capital will be
established as an internally managed corporate Real Estate Investment Trust (“REIT”).

Following the promulgation of the Taxation Laws Amendment Act (Act No. 31 of 2013) on 12 December 2013, the
process in terms of which Collective Investment Schemes in Property (“CISIPs”) may be converted from CISIP
REITs into corporate REITs is currently being agreed upon between the various CISIPs, including Capital, and the
FSB’s Registrar of Collective Investment Schemes. The process for conversion will shortly be published by the FSB
by way of a Notice issued in terms of the Collective Investment Schemes Control Act, 2002 (Act 45 of 2002), as
amended (“the Notice”).

Until such time as the Notice is published in the Government Gazette and the various regulatory and unitholder
approvals have been received, the timing of the proposed restructure remains uncertain and unitholders will be kept up
to date by way of further SENS announcements.

27 February 2014


Sponsor

Java Capital

Date: 27/02/2014 04:37:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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