Wrap Text
Change statement, notice of annual general meeting and availability of the BBBEE annual compliance report
TRANSCEND RESIDENTIAL PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
Registration number 2016/277183/06
JSE share code: TPF ISIN: ZAE000227765
(Approved as a REIT by the JSE)
(“Transcend” or “the Company”)
CHANGE STATEMENT, NOTICE OF ANNUAL GENERAL MEETING AND AVAILABILITY
OF THE BROAD-BASED BLACK ECONOMIC EMPOWERMENT ANNUAL COMPLIANCE
REPORT
Change statement
Shareholders are advised that Transcend’s 2017 integrated annual report (“integrated annual report”),
incorporating the audited annual financial statements for the year ended 31 December 2017 (on which the
Company’s auditors expressed an unmodified audit opinion) and the notice of annual general meeting of
shareholders, was published today, Thursday, 26 April 2018. The integrated annual report is also available
on the Company’s website, www.transcendproperty.co.za.
The integrated annual report contains a modification to the consolidated segmental analysis included in the
provisional summarised audited financial statements for the year ended 31 December 2017 (“Provisional
Report”), as published on SENS on 9 March 2018. The modification relates to the reconciliation of total
assets in the comparative 2016 segmental analysis. It should be noted that the 2017 segmental analysis as
included in the Provisional Report remains unchanged.
The consolidated statement of financial position, consolidated profit and loss and other comprehensive
income statement, consolidated statement of changes in equity and consolidated cash flow statement
contained in the integrated annual report remain unchanged from those published in the Provisional Report.
Earnings per share, headline earnings per share, adjusted headline earnings per share, net asset value per
share and net tangible asset value per share as previously reported in the Provisional Report also remain
unchanged.
Subsequent to the release of the Provisional Results, a final review of the consolidated segmental analysis
identified that the summarised segmental analysis per the provisional summarised audited financial
statements for the period ended 31 December 2016 described the investment properties line item as total
assets. This was updated in the integrated annual report to show separate line items for investment
properties and other assets, which amount was not previously included. The amount for total assets was
also updated accordingly.
The table below shows an extract of the 2016 summarised segmental analysis published in the Provisional
Results.
Summarised segmental analysis for the period ended 31 December 2016:
R’000
67 on 7th Acacia Place Alpine Mews
Revenue 2 540 3 401 1 050
Property operating expenses (679) (1 409) (386)
Profit and total comprehensive 781 (215) 355
income for the period
Total assets 91 800 133 800 32 100
Total interest-bearing borrowings 50 895 99 876 14 273
Ekhaya Fleurhof Ekhaya Jabulani Jackalberry
Close
Revenue 2 039 3 020 3 016
Property operating expenses (479) (1 188) (814)
Profit and total comprehensive 1 979 3 556 1 512
income for the period
Total assets 65 000 88 600 112 400
Total interest-bearing borrowings 31 403 45 471 23 156
Kent Road Kosmosdal Parklands
Revenue 1 079 4 169 3 019
Property operating expenses (348) (1 166) (985)
Profit and total comprehensive 716 166 5 242
income for the period
Total assets 33 800 135 900 93 500
Total interest-bearing borrowings 14 194 57 354 37 278
Village Seven, Stone Terenure Estate Theresa Park
Arch Estates Estates
Revenue 1 866 6 786 2 790
Property operating expenses (770) (2 083) (1 097)
Profit and total comprehensive 1 719 8 624 (4 421)
income for the period
Total assets 54 900 210 000 92 850
Total interest-bearing borrowings 26 837 76 862 49 609
Tradewinds Reconciling items Total
Revenue 1 485 - 36 260
Property operating expenses (536) - (11 940)
Profit and total comprehensive 255 (3 745) 16 524
income for the period
Total assets 44 750 - 1 189 400
Total interest-bearing borrowings 20 268 - 547 476
The table below shows the updated summarised segmental analysis for the period ended
31 December 2016 as included in the integrated annual report.
Summarised segmental analysis for the period ended 31 December 2016:
R’000
67 on 7th Acacia Place Alpine Mews
Revenue 2 540 3 401 1 050
Property operating expenses (679) (1 409) (386)
Profit and total comprehensive 781 (215) 355
income for the period
Investment properties 91 800 133 800 32 100
Other assets - - -
Total interest-bearing borrowings 50 895 99 876 14 273
Ekhaya Fleurhof Ekhaya Jabulani Jackalberry
Close
Revenue 2 039 3 020 3 016
Property operating expenses (479) (1 188) (814)
Profit and total comprehensive 1 979 3 556 1 512
income for the period
Investment properties 65 000 88 600 112 400
Other assets - - -
Total interest-bearing borrowings 31 403 45 471 23 156
Kent Road Kosmosdal Parklands
Revenue 1 079 4 170 3 019
Property operating expenses (348) (1 166) (985)
Profit and total comprehensive 716 166 5 242
income for the period
Investment properties 33 800 135 900 93 500
Other assets - - -
Total interest-bearing borrowings 14 194 57 354 37 278
Village Seven, Stone Terenure Estate Theresa Park
Arch Estates Estates
Revenue 1 866 6 786 2 790
Property operating expenses (770) (2 084) (1 097)
Profit and total comprehensive 1 719 8 624 (4 421)
income for the period
Investment properties 54 900 210 000 92 850
Other assets - - -
Total interest-bearing borrowings 26 837 76 862 49 609
Tradewinds Reconciling items Total
Revenue 1 485 - 36 262
Property operating expenses (586) - (11 941)
Profit and total comprehensive 255 (3 745) 16 524
income for the period
Investment properties 44 750 - 1 189 400
Other assets - 37 305 37 305
Total interest-bearing borrowings 20 268 - 547 476
To highlight the changes in the above segmental analysis, the following table has been prepared:
As per the Provisional Report published on SENS on 9 March 2018
Total assets 44 750 - 1 189 400
As per the Integrated Annual Report
Investment properties 44 750 - 1 189 400
Other assets - 37 305 37 305
Notice of annual general meeting
Shareholders are further advised that the Company’s annual general meeting will be held at 54 Peter Place,
Peter Place Office Park, Block C, Cardiff House, Bryanston, Johannesburg on Tuesday, 29 May 2018 at
15:00.
The record date on which shareholders must be recorded in the register maintained by the transfer
secretaries of the Company for purposes of being entitled to attend and vote at the meeting is Friday,
18 May 2018. Accordingly, the last day to trade is Tuesday, 15 May 2018.
Availability of Broad-Based Black Economic Empowerment compliance report
Shareholders are hereby notified that in accordance with the JSE Listings Requirements, Transcend’s
annual compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment
Act 53 of 2003, read with the Broad-Based Black Economic Empowerment Amendment Act 46 of 2003,
has been published and is available on the Company’s website.
26 April 2018
Designated advisor
Java Capital
Date: 26/04/2018 03:09:00 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.