BRIEF-Accelerate Property Fund Says Paying Distributions In 2021 May Be Unlikely

  • Reuters
  • Stock Market News
BRIEF-Accelerate Property Fund Says Paying Distributions In 2021 May Be Unlikely
Credit: © Reuters.

July 29 (Reuters) - Accelerate Property Fund Ltd APFJ.J :

* ACCELERATE PROPERTY FUND LTD - AS AT 31 MARCH 2020, ACCELERATE'S INVESTMENT PROPERTY PORTFOLIO HAD A VALUE OF R12, 6 BILLION (2019: R12,7 BILLION)

* ACCELERATE PROPERTY FUND LTD - MAY BE UNLIKELY THAT COMPANY WILL BE ABLE TO PAY DISTRIBUTIONS DURING 2021

* ACCELERATE PROPERTY FUND LTD - FUND HAS AMENDED ITS CAPITAL RETENTION POLICY TO CATER FOR A RETENTION OF UP TO 25% OF DISTRIBUTABLE PROFITS

* ACCELERATE PROPERTY FUND - DUE TO EFFECTS OF COVID-19 ON TENANTS AND CASH RECEIVABLE FROM TENANTS, ACCELERATE WILL NOT BE PAYING A FINAL DISTRIBUTION

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