INVESTEC AUSTRALIA PROPERTY FUND - Distribution Update

Release Date: 29/05/2018 10:04
Code(s): IAP
 
Wrap Text
Distribution Update

INVESTEC AUSTRALIA PROPERTY FUND
Incorporated and registered in Australia in terms of ASIC (ARSN 162 067 736)
Registered as a foreign collective investment scheme in terms of the Collective Investment Schemes Control Act
No.45 of 2003 and operated by Investec Property Limited (ACN 071 514 246; AFSL 290 909) (“Responsible
Entity”)
Share code: IAP
ISIN: AU60INL00018
(the “Fund”)



DISTRIBUTION UPDATE


Unitholders are referred to the announcement relating to the reviewed preliminary condensed consolidated financial
results for the year ended 31 March 2018 released on SENS on Tuesday, 15 May 2017 containing details of the
final distribution declaration number 9.

As required by the JSE Listing Requirements, the Fund has entered into a forward exchange contract to convert the
AUD distribution to ZAR such that unitholders are given at least 1 week’s notice ahead of the last day to trade of the
exchange rate locked in. This is in line with the manner in which the Fund’s last distribution payment was made and
will be applied to all future distribution payments that the Fund makes.

Accordingly, unitholders are advised that this distribution has been converted from AUD and NZD to ZAR at an
exchange rate of AUD 1.00 : ZAR 9.45320 and NZD 1:00 : ZAR 8.70070. The resulting distribution is 48.30042 ZAR
cents per unit (pre withholding tax paid in Australia and corporate tax paid in New Zealand) and 44.18692 ZAR cents
per unit (post withholding tax paid in Australia and corporate tax paid in New Zealand). This post withholding tax
distribution will be paid on Monday, 11 June 2018 as per the timetable set out in the reviewed preliminary
condensed consolidated financial results.



Johannesburg
29 May 2018


Investment Bank and Sponsor
Investec Corporate Finance

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