Edition:
India

Emira Property Fund (EMIJ.J)

EMIJ.J on Johannesburg Stock Exchange

1,596.00ZAc
14 Nov 2018
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Latest Key Developments (Source: Significant Developments)

Emira Property Fund To Dispose 25 Office Assets & Associated Letting Enterprises
Tuesday, 9 Oct 2018 

Oct 9 (Reuters) - Emira Property Fund ::TERMS ANNOUNCEMENT IN RESPECT OF THE DISPOSAL OF CERTAIN OF EMIRA’S OFFICE ASSETS AND ASSOCIATED LETTING ENTERPRISES.AGREED TERMS OF A TRANSACTION FOR DISPOSAL OF 25 OFFICE ASSETS AND ASSOCIATED LETTING ENTERPRISES.INTENDS TO RE-INVEST MAJORITY OF DISPOSAL PROCEEDS INTO PROPERTIES LOCATED OFFSHORE.TOTAL SALE CONSIDERATION OF R1.8 BILLION.SHANKLY SHALL BE 51% OWNED BY ZUNGU INVESTMENT COMPANY PROPRIETARY LIMITED AND 29% BY BOYNO TRADE & INVEST PROPRIETARY LIMITED.REMAINING 20% IN SHANKLY WILL BE OWNED BY EMIRA.R1.4 BILLION OF CASH CONSIDERATION IS BEING PROVIDED BY THIRD-PARTY FINANCIER ON SENIOR SECURED BASIS.  Full Article

Transcend Residential Property Fund Acquires 2,159 Residential Units For 1.27 Bln Rand
Monday, 8 Oct 2018 

Oct 8 (Reuters) - Transcend Residential Property Fund Ltd ::ACQUISITION OF 2,159 RESIDENTIAL UNITS AND UPDATE ON PREVIOUSLY ANNOUNCED ACQUISITIONS.ACQUISITION OF 2,159 RESIDENTIAL UNITS FOR R1.27 BILLION.TRANSACTIONS WILL BE FUNDED 40% WITH EQUITY & 60% WITH DEBT.INTENDS TO APPLY FOR A MIGRATION TO MAIN BOARD OF JOHANNESBURG STOCK EXCHANGE.DEAL WILL BE FUNDED 40% WITH EQUITY (FULLY COMMITTED AND UNDERWRITTEN) AND 60% WITH DEBT.INTENDS TO RAISE APPROXIMATELY R468 MILLION OF NEW EQUITY BY WAY OF A VENDOR PLACEMENT OF TRANSCEND ORDINARY SHARES.EMIRA PROPERTY COMMITTED TO BUY ADDITIONAL SHARES IN CO.EMIRA PROPERTY TO HOLD MINIMUM OF 25.1% & UP TO MAXIMUM OF 34.9% OF CO'S SHARES AFTER DEAL CLOSE.  Full Article

Emira Property Fund reports dividend for 6 months to Dec. 31
Wednesday, 15 Feb 2017 

Emira Property Fund : Dividend for six months to 31 December 2016 of 68.93 cents per share has been declared . Vacancies have increased from 4.7 pct at 31 December 2015 to 7.0 pct at 31 December 2016. . Revenue rose marginally year-on-year by 0.9 pct, . Dividend income of 10.6 mln rand was received during period, . Ben Van Der Ross, Emira's chairman, has announced his retirement from board with effect from 14 February 2017. .Gerhard Van Zyl has taken up position of chairman with effect from 15 February 2017..  Full Article