SWAPROP Investors To Share E4 Million

By Ntokozo Nkambule

Swaziland Property Investment Limited (SWAPROP) has declared a distribution announcement in respect of income distribution from the period of 1 July 2022 to 31 December 2022.

SWAPROP is a property investment holding company that derives its income from interest on loans, with its subsidiary companies and interest on investment accounts.

Wholly-owned subsidiaries linked to SWAPROP include Plaza Park Limited, The Hub Limited, Tincwadzi Properties Limited, Nhlangano Mall Properties, and Elwandle Properties Limited.

The subsidiary companies own their properties and generate income from property rentals and related revenue sources. SWAPROP also has interests in legal entities which pool securities and other assets on behalf of shareholders, unit holders, and beneficiaries.

The Eswatini Stock Exchange (ESE) listed company notes that the distribution announcement comprises E17.22 cents per share.

“Notice is hereby given of the declaration of distribution number 50 in respect of the income distribution period 1 July 2022 to 31 December 2022 amounting to E4 004 000 (Four million and four thousand Emalangeni only) comprising E17.22 cents per share.”

SWAPROP states that the distribution was declared by a directors’ resolution on 12 April 2023, and is payable to unit holders registered in the company’s books at the close of business on 13 May 2023.

“The transfer books and register of members will close on 12 May 2023 for the purpose of identifying those unit holders to whom the distribution will be made. Payment of the distribution is expected to be posted on 16 May 2023. Non-resident shareholders tax will be deducted where applicable,” states the Notice.

Worth noting as well is that the company also recently announced the acquisition of Matata Properties. SWAPROP believes that the acquisition will add to shareholder value in the company by enhancing earnings and increasing the fair value of the assets.

Moreover, SWAPROP has disclosed that they have received an offer with respect to the company that owns the industrial properties in Matsapha which is under consideration.

Sponsoring Brokers for the investment company is ESW Securities, while the Auditors are SNG Grant Thornton Chartered Accountants (Eswatini), and the Transfering Secretaries are SNG Grant Thornton (Advisory) (Eswatini).

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