ApexHi delivers total returns Of 386% since inception

Posted On Monday, 22 January 2007 02:00 Published by eProp Commercial Property News
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Investors who acquired ApexHi units when the company first listed its A and B unit structure in March 2001 have realised a total return of 386% for the 70 months of trading to the end of December 2006.

Gerald LeissnerApexHi CEO, Gerald Leissner says this total return comprises 264% capital growth and 122% income return. “The B units have done particularly well, delivering a total return of 560%, comprising 399% capital growth and 161% income return. The B units were issued at R4,00 per unit in 2001, and have peaked at R17,94,” says Leissner.

The A units, which were always pitched as low-risk units with an initial “almost guaranteed” minimum return, have delivered a total return of 270% - 173% capital growth and 97% income return.

The combined A and B units (taking into account the C units received by the A and B unit holder) performed well in 2006, delivering an annual total return for the year of 40%, slightly ahead of the sector average of 39%. The B units performed particularly well, delivering a total annual return of 47%.

Leissner says the new C unit which listed in October closed at R2,80 on the first day of trade and is currently priced at R4,55. The current combined unit price of the A, B and C unit is currently about R37,20, compared to the combined A and B unit price of R28,80 before the listing of the C unit. “The C units will only start participating in earnings when the combined total annual distribution exceeds R3,00. We are expecting to reach these earnings in 2008,” says Leissner.

Last modified on Saturday, 26 April 2014 16:48

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