EMIRA EXPECTS 15% FALL IN DISTRIBUTABLE EARNINGS

“EMIRA Property Fund said yesterday it expected distributable earnings for the current financial year to decrease by at least 15 percent (R118million) when compared with distributable earnings for the financial year ended June 30 last year”

Given the uncertainty regarding the future effects of Covid-19 on global economies, and the impact on Emira’s future financial performance and position, the board would revisit Emira’s distribution policy, which was currently to pay out 100 percent of distributable earnings. This, however, would only be formally considered at the board meeting scheduled for the end of August, and would take into account Emira’s financial position and liquidity forecast at that date. The company was planning to release its results on August 31this year.