Operating activities

Net result

(106,774)

(41,334)

Adjustments for:

Valuation movements

150,324

76,208

Net finance result

1,699

2,464

Movements in working capital

(21,351)

19,697

Cash flow generated from operating activities

23,898

57,035

Interest paid

(2,201)

(2,202)

Interest received

707

-

Cash flow from operating activities

22,404

54,833

Investment activities

Proceeds from sale of investment property

-

-

Payments of investment property

(64,541)

(33,926)

Payments of investment property under construction

-

(25,176)

Cash flow from investment activities

(64,541)

(59,102)

Finance activities

Proceeds from the issue of capital

80,000

45,000

Redemption of units

-

-

Dividends paid

(32,330)

(43,512)

Cash flow from finance activities

47,670

1,488

Net increase/(decrease) in cash and cash equivalents

5,533

(2,781)

Cash and cash equivalents at beginning of year

12,415

15,197