fairvest property hldgs-unit (FVT) Snapshot

Fairvest Property Holdings Ltd. announced audited consolidated earnings results for the year ended December 31, 2012. For the year, the company reported operating profit of ZAR 4,836,000 against ZAR 2,915,000 a year ago. Profit before taxation was ZAR 4,999,000 against ZAR 1,134,000 a year ago. Headline and diluted headline profit attributable to linked unit holders was ZAR 3,447,000 or 3.0 cents per share against ZAR 6,383,000 or 7.4 cents per share a year ago. Net asset value per linked unit and net tangible asset value per linked unit was 134.8 cents against 162.3 cents a year ago. Cash outflow from operating activities was ZAR 23,207,000 against cash inflow from operating activities of ZAR 2,122,000 a year ago.

Fairvest Property Holdings Ltd. is looking for acquisitions. The company said, “We will continue to focus on growing the portfolio through strategic value-enhancing acquisitions, coupled with a focus on improving the quality of the portfolio through the acquisition of larger centers that dominate in the area in which they are located.

Fairvest Property Holdings Ltd. announced that non-executive director and Chairman Mr. Jacques Du Toit has resigned from the Company's audit and risk committee and that independent non-executive director Ms Keneilwe Moloko has been appointed to the audit and risk committee of the Company. The effective date of the aforementioned change is 6 February 2013. She serves as an independent non-executive director of KWV Holdings and Prescient Limited. She also serves on the audit committee of the City of Cape Town, Cape Retirement Fund, Department of Rural Development and Department of Justice and Constitutional Development.