SAC SRL
SAC SRL
SRL/SAC - SA Retail/SA Corporate - Results of the Offer
SA Retail Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/025764/06)
Share Code: SRL & ISIN Code: ZAE000034328
("SA Retail")
SA Corporate Real Estate Fund
(formerly Martprop Property Fund)
(Incorporated in the Republic of South Africa)
Share Code: SAC & ISIN Code: ZAE000083614
A Collective Investment Scheme in property registered in terms of the Collective
Investment Schemes Control Act, No. 45 of 2002 and managed by
SA Corporate Real Estate Fund Managers Limited
(formerly Marriott Property Fund Managers Limited) (Registration number
1994/009895/06)
("SA Corporate" or "the Fund")
Results of the offer by SA Corporate to acquire all the SA Retail linked units
in issue ("the Offer")
SA Retail linked unitholders are referred to the announcement dated Thursday, 19
April 2007 informing SA Retail linked unitholders of the Offer becoming
unconditional.
At 12:00 on Friday, 4 May 2007, the closing date of the Offer, SA Corporate had
received acceptances from SA Retail linked unitholders in respect of 260 401 722
SA Retail linked units equating to 99.79% of the SA Retail linked units in
issue.
Accordingly, SA Corporate will exercise its entitlement to compulsorily acquire
the remaining SA Retail linked units it does not own in terms of section 440K of
the Companies Act, No. 61 of 1973, as amended ("the Companies Act"). The
Companies Act allows the offeror to compulsorily acquire the interests held by
the minorities once it has received acceptances for not less than nine-tenths of
a class of securities in issue.
A circular incorporating a notice in terms of section 440K(1) of the Companies
Act is expected to be posted to SA Retail linked unitholders on or about Monday,
14 May 2007.
Durban
Monday, 7 May 2007
Investment bank and sponsor to SA Corporate
Nedbank Capital
Attorneys to SA Corporate
Jowell Glynn & Marais
Sponsor to SA Retail
Exchange Sponsors
Date: 07/05/2007 16:50:09 Produced by the JSE SENS Department.
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