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ATTACQ LIMITED - Trading statement

Release Date: 13/09/2021 14:36
Code(s): ATT     PDF:  
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Trading statement

ATTACQ LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/000543/06)
JSE share code: ATT ISIN: ZAE000177218
(Approved as a REIT by the JSE)
(“Attacq” or “the company”)


TRADING STATEMENT


Shareholders are referred to Attacq’s distributable income per share (“DIPS”) of 73.0 cents for the year ended 30 June 2020
(“prior financial year”), previously reported as 73.1 cents and subsequently updated in accordance with the SA REIT
Association Best Practice Recommendation Second Edition adopted by Attacq for the year ended 30 June 2021 (“current
financial year”), and its dividend per share (“DPS”) of 45.0 cents for the prior financial year. The DPS for the prior
financial year comprised an interim dividend in respect of the period ended 31 December 2019 with no final dividend
having been declared after due consideration by the board of directors of Attacq’s capital structure and liquidity, and taking
into account the uncertainty regarding the continuing impact of COVID-19, and the weak economy.

Attacq advises that DIPS for the current financial year is expected to be 46.8 cents, a decrease of 35.9% when compared
with the prior financial year. The decrease is primarily attributable to the non-receipt of dividends from its investment in
MAS Real Estate Inc as compared with R233.6 million received in the prior financial year (45.4% of distributable income).
The South African operations have performed well in the current year, growing its DIPS by 22.5%, led by the Waterfall
City portfolio which grew by 30.6%. No contribution to DIPS was received from its Rest of Africa retail investments.

Attacq’s strategic objectives include improving its capital structure by reducing its debt while creating development capacity
for its Waterfall City development pipeline. As set out in its pre-close presentation and debt funding update released on
26 June 2021 and 14 July 2021, respectively, Attacq has made good progress in reducing its debt and improving liquidity,
achieved primarily through its ongoing disposal programme.

Shareholders are further advised that, consistent with Attacq’s strategic objectives, the board of directors have resolved not
to pay a dividend for the current financial year. In compliance with regulatory requirements, the distributable profits which
were generated by Attacq’s subsidiaries during the current financial year will be distributed to Attacq within four months
of year-end. Attacq will account for this income in its distributable profits for the 2022 financial year (“next financial
year”). The payment of a dividend in respect of its distributable profits for its next financial year will be required by no
later than 31 October 2022 for Attacq to retain its REIT status for that year. The board of directors will consider the
declaration of dividends on or before that date.

The financial information contained in this trading statement has not been reviewed or reported on by Attacq’s auditors.

Attacq’s results will be released on SENS on 14 September 2021 with the annual results presentation hosted online at 11h00
on the same day. Please visit www.attacq.co.za for more information.

13 September 2021


Sponsor
Java Capital

Date: 13-09-2021 02:36:00
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