Tuesday, 30 October 2007 02:00

20% increase in Redefine distributions

Redefine Income Fund’s interest distributions to linked unitholders have grown by a noteworthy 20% from last year, substantially outperforming the sector

Madison Property Fund Managers has again exceeded market expectations with its interim distribution to unitholders of 36 cents per linked unit for the six-months to 30 June 2007

Redefine Income Fund Limited, the fourth largest South African property company listed on the JSE Limited, today declared a distribution of 12.6 cents per linked unit for the three months to 31 May 2007, representing an increase of 18.87% over the 10.6 cents paid in the third quarter of 2006

Madison Property Fund Managers today announced its excellent maiden results as a JSE-listed company with distributable income of 39 cents per linked unit for an eight month financial period to 31 December 2006. Distributable earnings of R74,1 million exceeded the forecast of R63,6 million by a noteworthy 16,5%.  This equates to a 47,8% total return to linked unitholders since listing on the Financial Real Estate – “Real Estate Holdings and Development Sub – Sector” of the JSE Limited on 7 June 2006.

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