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South African News and Market Update: JSE All Share Down, rand slips, and more.

South African News and Market Update: JSE All Share Down, rand slips, and more

CEDAR INVESTMENTS LIMITED – Unaudited Results

Net asset value per share increased by 19.3% from 373 cents per share at 31 August 2020 to 445 cents per share at 31 August 2021, mainly due to higher valuations of TLG, Capespan and Kaap Agri, offset by the special dividend paid to shareholders during the period. Earnings per share increased from a loss of 14.3 cents per share to a profit of 31.4 cents per share, mainly due to the higher valuations of TLG, Capespan and Kaap Agri since the last comparative period.

SIRIUS REAL ESTATE LIMITED – Trading update

Total annualised rental income increased by 3.3% to €99.7 million. While the contribution in the first half of the financial year was modest due to the timing of completions, the impact of acquisitions is expected to be greater in the second half of the year. Like-for-like occupancy remained broadly unchanged at 86%, while overall occupancy fell to 85% (March 2021: 87%), primarily due to the acquisition of 23,000 sqm of vacant space in Essen and Ohringen, which was completed during the period. In line with its strategy, the Company intends to leverage its asset management platform to increase occupancy and net operating income in these properties.

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