Emira opens JSE trade as a Corporate REIT achieving another strategic milestone

Posted On Tuesday, 07 July 2015 19:50 Published by
Rate this item
(0 votes)

Emira Property Fund today began trading as an internally managed Corporate REIT, listed on the JSE.

James Templeton

This follows its successful conversion from a Collective Investment Scheme in Property, also known as a Property Unit Trust (PUT). Emira’s milestone new structure brings it in line with internationally recognised best practice. It also supports its investor appeal and sustainability for the future. 

Emira’s external management structure has been permanently removed and its business simplified business into a new legal entity, called Emira Property Fund Limited. Today former Emira PI Holders received New Emira shares on a pro rata basis in the ratio of one new Emira share for every one Emira PI held.

James Templeton, current CEO of Emira, says: “Emira is in a great position for the future with a robust foundation that is more functional, competitive and streamlined, as well as a positive outlook. It is now more investor friendly, offers greater shareholder rights and will be better understood by investors across the globe. It also has a great team in place, a strong board and an outstanding portfolio of assets.”

Emira is a JSE-listed SA REIT (real estate investment trust) invested in a quality diversified portfolio of office, retail and industrial properties. Its assets comprise 148 properties valued at R12.5 billion. Emira is also internationally diversified through its direct interest in ASX-listed Growthpoint Properties Australia (GOZ), valued over R700 million, with total assets now at R13.5 billion.

 

Most Popular

Equites Property Fund’ prime logistics portfolio delivers exceptional returns

May 04, 2022
Andrea Taverna-Turisan
Equites Property Fund Limited today announced growth in its distribution per share of…

When is eviction legal? All you need to know about dealing with problem tenants

May 04, 2022
Evictions
Buying an investment property is great, especially when you’ve chosen a good location.…

Steilloop Shopping Centre makeover exceeds customer needs

Apr 22, 2022
Rural Limpopo's Steilloop Shopping Centre was bought by developer, GMI Property Group…

Deadline looms for energy performance compliance for commercial buildings

Apr 25, 2022
Energy certiticate
By 7 December 2022, commercial properties in specified sectors must have obtained their…

First quarter Rode’s Report raises doubts over the Sectional Titles Schemes Management Act

Apr 25, 2022
Default Image
The latest issue of the Rode’s Report has brought into question the practicality of the…

Please publish modules in offcanvas position.