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Arrowhead reassures about African Bank impact

Johannesburg - Arrowhead Properties [JSE:AWA] would like to reassure linked unitholders that Arrowhead's exposure to African Bank [JSE:ABL] is insignificant.

Of Arrowhead's approximately R62m in monthly rental income, only R840 000 of that is attributable to the Abil Group, Arrowhead said in a statement issued on Monday.

The statement follows the SA Reserve Bank's decision on Sunday to place Abil under curatorship.

Furthermore, the properties which are potentially impacted are all situated in nodes that management believe are easily re-lettable.
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