Vukile Property Fund Limited · JSE:VKE

Vukile Property Fund — Investor Presentation (July 2007)

11 slides from Vukile Property Fund's investor presentation, Jul 11, 2007

  1. Slide 1: NSX Listing

    NSX Listing 11 July 2007

  2. Slide 2: Listing

    LISTING  Listed on JSE on 24 June 2004  Number of linked units – 205 129 430  Market cap – R1.03 billion  Number of properties – 52  Gross lettable area – 676 901 m²  Acquisition cost – R1.86 billion  Vacancy – 4.5%  Sectoral spread (gross rentals): Retail 49% Commercial 38% Industrial 13% V

  3. Slide 3: Historical Highlights

    HISTORICAL HIGHLIGHTS  Acquisition of 100% of MICC Property Income Fund Limited (± R1 billion)  Securitisation of R770 million debt  Acquisition by Buhlobo Consortium (BEE Group) of 25% of Vukile from Sanlam  R200 million issue of linked units for cash  Grow portfolio to R3,86 billion at 31 Mar

  4. Slide 4: Distribution History

    DISTRIBUTION HISTORY VUKILE PROPERTY FUND LIMITED

  5. Slide 5: Linked Unit Price History

    LINKED UNIT PRICE HISTORY VUKILE PROPERTY FUND LIMITED

  6. Slide 6: Status as at 31 March 2007

    STATUS AS AT 31 MARCH 2007  Number of linked units – 295 550 877  Market cap – R3.2 billion (+ 211%)  Number of properties – 71 (+ 37%)  Gross lettable area – 898 351 m² (+ 33%)  Directors’ valuation of portfolio – R3.86 billion (+ 108%)  Vacancy – 2.9% ( + 36%)  Sectoral spread (gross rental

  7. Slide 7: Highlights of Year to 31 March 2007

    HIGHLIGHTS OF YEAR TO 31 MARCH 2007  Distribution for 12 months up 12% compared to previous year  Distribution for 6 months up 14% compared to corresponding 6 month period  Successful implementation of R200 million issue of linked units for cash  NAV per linked unit up 20% to 803 cents  100% of

  8. Slide 8: Property Portfolio (Largest properties)

    PROPERTY PORTFOLIO (Largest properties) Area Value % of (m²) (R’ m) total Durban Phoenix S/C 24 134 355.1 8.9 Durban Embassy 32 376 191.6 4.8 Randburg Square S/C 51 370 185.9 4.7 PineCrest (50%) S/C 40 249 165.2 4.2 Bellville Louis Leipoldt 20 479 152.0 3.8 Dobsonville S/C 23 124 135.6 3.4 Oshakati

  9. Slide 9: Namibian Properties

    NAMIBIAN PROPERTIES Area Value % of (m²) (R’ m) total Oshakati Shopping Centre 21 591 119.4 32.6 BPI House Windhoek 12 826 113.1 30.9 Katutura Checkers Centre 10 525 58.9 16.1 Ondangwa Checkers Centre 5 709 30.4 8.3 Oshikango Ellerines Centre 5 868 28.5 7.8 Katima Mulilo Pep Stores 2 472 8.0 2.2 Run

  10. Slide 10: Strategic Priorities

    STRATEGIC PRIORITIES  Growth New acquisitions Further expansions/revamps/upgrades (Oshakati, Oshikango, Phoenix, Dobsonville, Daveyton, Eva Park, Meadowdale Mall)  Cost cutting Procurement New property management contracts  BEE Leverage existing shareholders Further initiatives re Code of Good Pr

  11. Slide 11: Prospects

    PROSPECTS  Property fundamentals remain strong (low vacancies, good economic growth, record distribution growth, high building costs, huge infrastructure spending, relatively low interest rates)  Scope for increase in market rentals  Benefits of cost cutting initiatives  Budget for growth for ne

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