BRIEF-Vukile Property Says Edcon Stores In Co's Portfolio To Decrease By 11 By Aug. 1

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BRIEF-Vukile Property Says Edcon Stores In Co's Portfolio To Decrease By 11 By Aug. 1
Credit: © Reuters.

March 5 (Reuters) - Vukile Property Fund Ltd VKEJ.J :

* UPDATE ON EDCON RESTRUCTURE

* VUKILE IS PARTICIPATING IN PROPOSED RECAPITALISATION AND RESTRUCTURING OF EDCON LIMITED

* AGREED TO A R37 MILLION CAPITAL INVESTMENT IN EDCON IN EXCHANGE FOR EQUITY IN RETAILER

* VUKILE EXPECTS COMPANY'S EXPOSURE TO EDCON TO ACCOUNT FOR ONLY 2.0% OF VUKILE'S GROUP RENTAL INCOME BY 1 AUGUST 2019

* PARTICIPATION IN EDCON RESTRUCTURING WILL NOT IMPACT COMPANY'S DISTRIBUTION GUIDANCE FOR ITS FULL YEAR ENDING 31 MARCH 2019

* NUMBER OF EDCON STORES IN CO'S PORTFOLIO SET TO DECREASE BY 11 TO 43 STORES BY 1 AUGUST 2019, WHICH WILL ALSO BE SMALLER ON AVERAGE

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