Short-form announcement: unaudited consolidated interim results for the 6 months ended 31 August 2018
– 11.7% ended financial increase 31 period August in 2018 distribution compared per share to the for corresponding the 6 months
– Net from asset 31 August value per 2017 share to 31 increased August 2018 by 9.5% to R16.67 – Certified black ownership of 53%
– Strong reflective like-for-like of strength property of underlying income property growth of portfolio 7.8%
– at Weighted 28 February average 2018 lease to 8.3 expiry years has at increased 31 August from 2018 7.9 years
– Fair value of fund exceeds R10 billion at 31 August 2018 – Agreements concluded to dispose of R265.3 million of non-core assets
– 67 664m2 of modern logistics properties currently under development between South Africa and the United Kingdom
– Successfully raised R800 million in an oversubscribed bookbuild in June 2018
– Significant reduction in all-in average fixed cost of debt from 7.99% at 28 February 2018 to 7.26% at 31 August 2018
– Awarded first-time issuer national scale ratings of A(ZA) and A1(ZA) for the long and short term respectively with the outlook accorded as ‘Stable’
Equites is listed on the JSE Limited as a Real Estate Investment Trust (“REIT”) and is the only specialist logistics property fund on the JSE. Equites shareholders are referred to the SENS announcement published on 11 October 2018 wherein shareholders are advised that the dividend for the period is 68.12 cents per share which is 11.7% higher than the corresponding financial period.
This short-form announcement is the responsibility of the directors and is a summary of the information in the full announcement and does not contain full or complete details. The full announcement was released on SENS on 11 October 2018 and can be found on the company’s website at www.equites.co.za. Copies of the full announcement may also be requested at the registered offices of Equites (14th Floor, Portside Tower, 4 Bree Street, Cape Town, 8001) or through firstname.lastname@example.org and the offices of the sponsor, Java Capital (6A Sandown Valley Crescent, Sandton, 2196), at no charge, during office hours from Thursday, 11 October 2018 to Thursday, 18 October 2018. Any investment decision should be based on the full announcement published on SENS and on the company’s website. None of the information in this announcement has been reviewed or reported on by the company’s auditors.
Bounty Brands distribution centre, Epping, Cape Town
Premier FMCG distribution centre, Equites Park Lords View, Gauteng
Triton Express distribution centre, Meadowview Business Estate, Gauteng