Resilient: R1bn rights offer now unconditional

Resilient Property Income Fund’s planned rights offer to linked unitholders in the company to raise about R1 billion was now unconditional and could now be implemented, the listed property income fund reported yesterday. The company had reported on Monday that linked unitholders would be offered just over 19.2 million Resilient linked units in a ratio of 6.55582 rights offer units for every 100 units held on May 2 at a subscription price of R52 for each new linked unit. The proceeds from the rights offer would be used to finance the company’s pipeline of acquisitions and developments, as well as for strategic opportunities. Resilient said yesterday that linked unitholders would be able to commence trading in the rights offer linked units from May 12. The rights offer would open on May 5 and close at noon on May 16. The last day in which to trade in Resilient linked units to participate in the rights offer is April 23. Resilient closed unchanged at R57.80 on the JSE yesterday. – Roy Cokayne