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Emira Property Fund today reported a total dividend of 143.18 cents per share for its full-year ended 30 June 2017.
Shareholders of Emira Property Fund have overwhelmingly approved a transaction that will see 5% of the REIT’s shares in issue being held by strategic black partners who will add value to Emira and its investors while also contributing to transforming the South African economy.
Emira Property Fund today announced a transaction that will see 5% of its shares in issue being owned by strategic black partners.
Emira Property Fund has increased its spread of funding significantly over the past two years and now has funding facilities with six different banks, supporting a better risk profile, improving its refinancing risk and minimising its cost of capital.
Emira Property Fund Limited today reported a 68,93 cents dividend per share for its half-year ended 31 December 2016, which is in line with its market guidance.
Diversified property group Arrowhead Properties has ambitions to make sizable acquisitions in 2017.
Emira Property Fund Limited today reported distribution growth of 8.8 % per share for its full-year ended 30 June 2016, meeting its market guidance with a strong set of results for Emira investors.
Emira Property Fund, which could be taken over by Arrowhead Properties, may receive offers from other suitors.
The Board of Directors of Emira Property Fund has rejected Arrowhead’s unsolicited, non-binding, and highly conditional expression of interest to acquire all of Emira’s issued share capital on the basis that it has no benefit to Emira’s shareholders.
Arrowhead Properties (‘Arrowhead’), the South African JSE listed Real Estate Investment Trust, (‘REIT’) announced today that it has made an expression of interest to acquire all or the majority of the issued share capital of Emira Property Fund Limited (‘Emira’) by means of a scheme of arrangement subject to the satisfactory conclusion of a due diligence investigation in respect of Emira’s forecast income for the 12 months ending 30 June 2017.