Edition:
India

Vukile Property Says Edcon Stores In Co's Portfolio To Decrease By 11 By Aug. 1


Tuesday, 5 Mar 2019 

March 5 (Reuters) - Vukile Property Fund Ltd ::UPDATE ON EDCON RESTRUCTURE.VUKILE IS PARTICIPATING IN PROPOSED RECAPITALISATION AND RESTRUCTURING OF EDCON LIMITED.AGREED TO A R37 MILLION CAPITAL INVESTMENT IN EDCON IN EXCHANGE FOR EQUITY IN RETAILER.VUKILE EXPECTS COMPANY'S EXPOSURE TO EDCON TO ACCOUNT FOR ONLY 2.0% OF VUKILE'S GROUP RENTAL INCOME BY 1 AUGUST 2019.PARTICIPATION IN EDCON RESTRUCTURING WILL NOT IMPACT COMPANY'S DISTRIBUTION GUIDANCE FOR ITS FULL YEAR ENDING 31 MARCH 2019.NUMBER OF EDCON STORES IN CO'S PORTFOLIO SET TO DECREASE BY 11 TO 43 STORES BY 1 AUGUST 2019, WHICH WILL ALSO BE SMALLER ON AVERAGE.