BRIEF-Growthpoint Properties Intends To Raise About ZAR 4 Bln Via Share Placing
Nov 11 (Reuters) - Growthpoint Properties Ltd GRTJ.J :
* JSE: GRT - PROPOSED PLACING OF NEW ORDINARY SHARES
* GROWTH PROPERTIES - INTENTION TO CONDUCT A CASH PLACING OF AUTHORISED BUT UNISSUED ORDINARY SHARES IN COMPANY
* GROWTH PROPERTIES - INTENTION TO CONDUCT A CASH PLACING TO RAISE APPROXIMATELY ZAR 4 BILLION OF GROSS SUBSCRIPTION PROCEEDS
* GROWTH PROPERTIES - CAPITAL PLAN INCLUDES DISPOSALS OF ZAR1.0 - 1.5 BILLION OF NON-CORE ASSETS WITHIN SOUTH AFRICAN PORTFOLIO IN CURRENT FINANCIAL YEAR
* GROWTH PROPERTIES - CAPITAL PLAN INCLUDES PARTIAL RETENTION OF EARNINGS THROUGH A REDUCTION IN OUR DIVIDEND PAYOUT RATIO
* GROWTH PROPERTIES - PROCEEDS RAISED FROM BOOKBUILD WILL IN PART BE USED TO REPAY DEBT ARISING FROM ACQUISITION
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