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VUKILE PROPERTY FUND LIMITED - Trading update and withdrawal of dividend guidance

Release Date: 01/04/2020 13:10
Code(s): VKE VKE11 VKE12 VKE15 VKE16 VKE13 VKE14 VKE07 VKE09 VKE10     PDF:  
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Trading update and withdrawal of dividend guidance

VUKILE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/027194/06)
JSE share code: VKE NSX share code: VKN
ISIN: ZAE000180865
Debt company code: VKEI
(Granted REIT status with the JSE)
(“Vukile” or “the Group”)


TRADING UPDATE AND WITHDRAWAL OF DIVIDEND GUIDANCE


Shareholders are referred to Vukile’s financial results for the interim period ended 30 September 2019, published
on SENS on 2 December 2019, where shareholders were advised that the dividend per share for the year ended
31 March 2020 would be between 3% and 5% higher than the prior year.

Shareholders are further referred to Vukile’s announcement published on SENS on 16 March 2020, wherein
Vukile’s and Castellana’s management confirmed that they have the required resources to meet their respective
obligations to banks and other creditors for the period ahead.

Vukile confirms that, even after taking into account the impact of the COVID-19 pandemic in Southern Africa
and Spain, distributable earnings per share for the year ended 31 March 2020 is expected to remain within the
guidance of 3% to 5% growth compared to the prior year.

However, given the uncertainty and lack of visibility regarding the extent of the impact of the COVID-19
pandemic on the Group’s financial performance and position, the Vukile Board will reconsider its distribution
policy, which is currently to pay out 100% of distributable earnings by way of a dividend. Accordingly, in order
to maintain maximum operational and financial flexibility, Vukile’s dividend per share guidance for the year
ended 31 March 2020 is withdrawn.

Vukile continues to proactively address the challenges faced by all its stakeholders and will update shareholders
as the situation evolves.

1 April 2020


JSE sponsor                                             NSX sponsor
Java Capital                                            IJG Securities (Pty) Ltd

Date: 01-04-2020 01:10:00
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