VKE - Vukile Property Fund Limited - Claims by for
VKE
VKE
VKE - Vukile Property Fund Limited - Claims by former MICC Unitholders withdrawn
Vukile Property Fund Limited
(Incorporated in the Republic of South Africa)
Registration number 2002/027194/06
JSE code: VKE & ISIN: ZAE000056370
("Vukile")
CLAIMS BY FORMER MICC UNITHOLDERS WITHDRAWN
Unitholders are referred to the year-end results announcement dated 25 May 2007
wherein they were notified of the finalisation of the acquisition by Vukile of
100% of the issued capital of MICC Property Income Fund Limited ("MICC") ("the
acquisition"). In addition, it was noted that an individual and certain MICC
unitholders he claimed to represent (collectively, "the objectors") had referred
their disputes with Vukile in respect of the acquisition to full trial
proceedings, at which the objectors would have to prove that Vukile had acted
unlawfully in compulsorily acquiring their MICC linked units and would be
required to prove damages.
In this regard, Vukile is pleased to announce that agreement has been reached
between, inter alia, Vukile and the objectors in terms of which the objectors
have agreed, without any form of compensation from Vukile, to waive all rights
to pursue any claims for damages or legal costs against Vukile in respect of the
acquisition.
Johannesburg
8 June 2007
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 08/06/2007 15:27:01 Produced by the JSE SENS Department.
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