Summary of Consolidated Financial Results for the year ended 31 December 2021
AREIT PROP LIMITED
Approved as a REIT
(Incorporated in the Republic of South Africa)
(Registration number 2021/837953/06)
(aReit Prop” or “the Company”)
ISIN Code: ZAE000306585 | JSE Code: APO
SUMMARY OF CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2021
Shareholders are advised that the Company was newly incorporated on 9 September 2021
ahead of the listing and did not trade from incorporation up to the year end. The only
transaction was the acquisition of the leasehold properties with effect from 31 December
2021. Accordingly, only the net asset value per share information has been presented.
The per share information is set out below:
Figures in Rand 31 December 2022
Net asset value per share (cents) 913.9
Number of shares in issue 100 000 000
aReit Prop’s business strategy is to invest in yield-enhancing assets and areas that offer
consistent, long-term rental growth. The asset and property management function are
carried out internally by aReit Prop’s experienced management team with a view to
extracting maximum value from each property. Whilst the current properties are leasehold
properties and are ungeared, the Company does envisage acquiring freehold properties
and gearing same, at appropriate levels, within the requirements for a REIT. There is no
intention to gear the existing leasehold properties.
With a secure rental income, strong balance sheet and no gearing, aReit Prop has a solid
base that will provide the ability to invest in various real estate sectors both locally and
internationally through further leasehold and freehold property acquisitions, utilising both
debt and equity associated with such acquisitions. The group expects that it will be able to
add significantly to its property portfolio on a yield-enhancing basis for its investors over time.
The short-form announcement is the responsibility of the directors and is only a summary of
the information in the full announcement and does not contain full or complete details. Any
investment decisions by investors and/or shareholders should be based on consideration of
the full announcement published on SENS and the Company’s website as a whole.
The full announcement can be found on the Company’s website at
www.areitprop.co.za/sens/ and also at the following link:
Mazars, the group’s independent auditors, has audited the consolidated annual financial
statements of the Group for the year end 31 December 2021, and has expressed an
unqualified audit opinion thereon. The Financial Statements were approved by
shareholders on 28 February 2022 prior to the listing and changes in shareholding.
Copies of the full announcement may also be requested at the Company’s registered
office and at the offices of the sponsor, at no charge, during office hours. Any investment
decision should be based on the full announcement released on SENS on 1 March 2021 and
published on the Company's website at www.areitprop.co.za as a whole, copies of which
may be requested at the company's registered office, and the offices of the sponsors,
AcaciaCap Advisors, at no charge.
Prepared by: AH Ismail CA (SA) 1 March 2022
AcaciaCap Advisors Proprietary Limited
Date: 01-03-2022 05:12:00
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