Listing of Castellana on the Spanish Stock Exchange
VUKILE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/027194/06)
JSE share code: VKE NSX share code: VKN
Debt company code: VKEI
(Granted REIT status with the JSE)
(‘Vukile’ or ‘the company’)
LISTING OF CASTELLANA ON THE SPANISH STOCK EXCHANGE
Shareholders are referred to the announcement released on SENS on 18 July 2018 and are advised that the
shares in Vukile’s 98% Spanish subsidiary, Castellana Properties Socimi S.A (‘Castellana’), have today,
25 July 2018 been listed by way of introduction on the Mercado Alternativo Bursatil (‘MAB’) operated by
the Spanish Stock Exchange. The shares were listed by way of introduction at €6.00 per share, which
attributes a market capitalisation to Castellana of c.€204 million. The listing ensures that Castellana
complies with applicable Spanish tax legislation in order for Castellana to maintain its REIT status.
As at 31 March 2018, Vukile’s investment in Castellana accounted for 21% of Vukile’s total assets.
BRIEF OVERVIEW OF CASTELLANA
Castellana is a company dedicated to the acquisition, management and leasing of real estate assets, mainly
shopping centres and other retail assets located in Spain.
On listing, Castellana’s portfolio consists of 15 properties with a gross asset value of €391 million and
a GLA of 197 132m2. Vacancies were at 3.3%. The Castellana portfolio comprised 93.4% retail assets and
94% of its income was derived from national or international tenants. The portfolio had a WAULT of
17.3 years. On listing Castellana had a Loan to Value of c.48%
Castellana has a highly experienced internal asset management team. Property management functions are
outsourced to a leading global firm with significant experience in the Spanish retail market.
Castellana is well positioned to continue growing apace and Vukile is experiencing strong deal flow and
seeing the benefits of the operating infrastructure that it has created on the ground in Spain.
25 July 2018
Corporate advisor and JSE sponsor NSX sponsor
Java Capital IJG Securities (Pty) Ltd
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