APA / APB / AXC - ApexHi Properties Limited - Independent fairness opinion in
APA APB AXC
APA
APA / APB / AXC - ApexHi Properties Limited - Independent fairness opinion in
relation to the acquisition of Ambit Properties Limited ("AMBIT")
ApexHi Properties Limited
(Incorporated in the Republic of South Africa)
Registration number 1999/000238/06
Share codes: APA ISIN codes: ZAE000083598
APB ZAE000083606
AXC ZAE000083580
("ApexHi")
INDEPENDENT FAIRNESS OPINION IN RELATION TO THE ACQUISITION OF AMBIT PROPERTIES
LIMITED ("AMBIT")
Unitholders are referred to the circular to ApexHi unitholders dated
29 April 2009 (the "circular") relating to the proposed acquisition by
ApexHi of all of the linked units in Ambit it does not already own, pursuant
to a scheme of arrangement in terms of section 311 of the Companies Act
("the acquisition").
As set out in the circular, as the acquisition involves the acquisition of
linked units in Ambit owned by Redefine Income Fund Limited, whom the JSE
considers to be a related party to ApexHi, the acquisition is considered to
be a small related party transaction. Accordingly ApexHi has appointed Deloitte
& Touche Corporate Finance ("Deloitte") as the independent professional expert
to advise whether the terms of the small related party transaction are fair to
ApexHi linked unitholders.
Deloitte have concluded that in their opinion the terms of the small related
party transaction are fair to ApexHi linked unitholders. A copy of their
fairness opinion is available for inspection at the offices of ApexHi, being
3rd Floor, 2 Arnold Road, Rosebank, for a period of 28 days from the date of
this announcement.
6 May 2009
Corporate advisor, legal advisor and sponsor
Java Capital (Proprietary) Limited
Independent professional expert
Deloitte & Touche Corporate Finance
Date: 06/05/2009 16:12:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
