| Fri 3 Aug 2007, 13:34 | | GRT - Growthpoint Properties Limited - Salient dat |
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GRT
GRT
GRT - Growthpoint Properties Limited - Salient dates announcement
Growthpoint Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/004988/06)
Share code: GRT & ISIN: ZAE000037669
("Growthpoint")
3 August 2007
SALIENT DATES IN RESPECT OF THE ACQUISITION BY GROWTHPOINT OF THE PROPERTY FUND
MANAGEMENT AND PROPERTY ADMINISTRATION BUSINESSES OF INVESTEC PROPERTY GROUP
LIMITED AND THE ESTABLISHMENT OF AN EXECUTIVE AND STAFF INCENTIVE SCHEME FOR
GROWTHPOINT
1. Introduction
In the announcement released on SENS on Wednesday, 30 May 2007,Growthpoint made
an offer, in terms of which it proposed to acquire the property fund management
business from Investec Property Group Limited("IPG"), the AMU Trust and Phatsima
Properties (Proprietary) Limited ("Phatsima") and the property administration
business from IPG,(collectively the "Property Services businesses") as a going
concern ("the proposed transaction"), for a purchase consideration amounting in
aggregate to R1 572 800 000. The proposed transaction is a large related party
transaction in terms of the JSE Listings Requirements and requires approval by
Growthpoint linked unitholders in a general meeting.
2. General meeting
Linked unitholders are informed that a general meeting of Growthpoint linked
unitholders will be held at the registered office of Growthpoint,100 Grayston
Drive, Sandown, Sandton at 09:00 on Tuesday, 21 August 2007, to consider and, if
deemed fit, to pass the ordinary resolution to approve the proposed transaction,
an ordinary resolution to implement the proposed executive and staff incentive
scheme and an ordinary resolution to authorise any director to do all things and
sign all documents to carry into effect the aforesaid resolutions.
3. Salient dates and times
The attention of Growthpoint linked unitholders should be drawn to the following
salient dates and times relevant to the proposed transaction:
2007
Circular and notice of general meeting posted to
Growthpoint linked unitholders Monday, 6 August
Last day to lodge proxies for the general meeting (by 09:00) Friday, 17 August
General meeting (at 09:00) Tuesday, 21 August
Release of results of the general meeting:
- on SENS Tuesday, 21 August
- and published in the press Thursday, 23 August
4. Circular
The circular providing full information on the proposed transaction, the
proposed executive and staff incentive scheme and incorporating a notice in
respect of the general meeting, will be posted to Growthpoint linked unitholders
on Monday, 6 August 2007. Copies of the circular may be obtained during normal
business hours from the registered office of Growthpoint, 100 Grayston Drive,
Sandown, Sandton. A signed copy of the circular and other documents available
for inspection will also be available at the registered office of Growthpoint.
Sandton,
3 August 2007
Joint sponsor
Investec Corporate Finance
Investec Bank Limited
Registration number 1969/004763/06)
Legal adviser to Growthpoint
Jowell Glyn and Marais Inc
Registration No: 1990/000849/21
Independent expert to Growthpoint and lead sponsor
Ernst & Young Advisory Services Limited
(Registration number 2006/018260/06)
Ernst & Young Sponsors (Pty) Ltd
(Registration number 2000/031843/07)
Independent reporting accountants
KPMG Inc
(Registration number 1999/021543/21)
Growthpoint debenture trustee
Bell Dewar & Hall Inc
(Registration number 1995/004675/21)
Independent advisors and attorneys to the AMU Trust and Phatsima
Fluxmans Inc
(Registration number 2000/024775/21)
Date: 03/08/2007 13:34:01 Produced by the JSE SENS Department.
