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Octodec investments limited (“Octodec”) : trading statement and dividend guidance
PREMIUM PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1994/003601/06)
JSE alpha code: BIPPL
(“Premium Properties”)
OCTODEC INVESTMENTS LIMITED (“OCTODEC”) : TRADING STATEMENT AND DIVIDEND
GUIDANCE
Debtholders of Premium Properties are advised that Octodec, the guarantor of Premium Properties, has
released a trading statement and dividend guidance as set out below.
Premium Properties debtholders are referred to Octodec’s reviewed provisional results announcement for the
year ended 31 August 2020, released on Monday, 16 November 2020, wherein Octodec confirmed that it will
not be providing distributable earnings guidance for the 2021 financial year, due to uncertainty arising from
COVID-19 and the continued impact on operating conditions.
Octodec uses distribution per share as its relevant measurement of financial results, and accordingly, in terms
of the Listings Requirements of the JSE, it is required to publish a trading statement as soon as it becomes
reasonably certain that the distribution per share for the next period to be reported on will differ by at least
15% from that of the prior corresponding period. Octodec therefore advises that distributable earnings per
share, on which distribution per share is based, is anticipated to be between 22% and 24% lower than
distributable earnings per share for the six months ended 29 February 2020, a pre-COVID-19 reporting period.
Octodec generated distributable earnings of between R196 million and R201 million for the six month period
ended 28 February 2021 (distributable earnings for the six months ended 31 August 2020: R159 million).
Octodec shareholders are further advised that, given the ongoing uncertainty related to COVID-19 and
Octodec’s established objectives to reduce debt and strengthen its balance sheet, the Board considers it prudent
to defer any decision on the declaration of a dividend to Octodec shareholders until the publication of
Octodec’s annual results for the financial year ending 31 August 2021, which are expected to be announced
during October 2021.
In this regard, Octodec shareholders are referred to the full disclosure contained in the interim results
announcement for the six months ended 28 February 2021, which announcement will be released on SENS
on or about Wednesday, 21 April 2021.
The financial information contained in this trading statement has not been reviewed or reported on by
Octodec’s auditors.
16 April 2021
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 16-04-2021 05:10:00
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