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VKE
VKE
VKE - Vukile Property Fund Limited - Results of general meeting
Vukile Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/027194/06)
JSE code: VKE NSX code: VKN
ISIN: ZAE000056370
("Vukile")
Results of general meeting
Vukile unitholders are hereby advised that the resolutions relating to:
* the acquisition by Vukile of the property asset management business of
Sanlam Properties (Proprietary) Limited ("Sanlam Properties") directly
related to the asset management of Sanlam Life Insurance Limited`s ("Sanlam
Life") property portfolio, as a going concern ("the Business Acquisition");
* a call option granted by Sanlam Life to Vukile to acquire certain
properties valued at approximately ZAR500 million from Sanlam Life;
* a right of first refusal granted by Sanlam Life to Vukile in respect of the
acquisition of the majority of the remainder of Sanlam Life`s property
portfolio;
* the issue and allotment of linked units in Vukile as consideration for the
Business Acquisition;
* an increase in the authorised ordinary share capital of Vukile; and
* the waiver by the holders of linked units in Vukile, other than Sanlam
Limited and its concert parties, of their rights to require Sanlam Limited
and its concert parties to make a mandatory offer, as defined in terms of
the Securities Regulation Code on Take-overs and Mergers,
were passed by the requisite majority of Vukile unitholders at a general meeting
held today. The special resolution relating to the increase in authorised share
capital will be registered with the Registrar of Companies in due course.
As all the conditions precedent to the Business Acquisition have now been
fulfilled, the Business Acquisition will be implemented with effect from 1
January 2010 and the linked units in Vukile to satisfy the purchase
consideration will be allotted and issued to Sanlam Properties and listed on the
JSE Limited with effect from the commencement of business on Monday, 4 January
2010.
Roodepoort
18 December 2009
Investment bank, corporate adviser and transaction sponsor
Nedbank Capital, a division of Nedbank Limited
Attorneys to Vukile
Webber Wentzel
JSE sponsor to Vukile
Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited
NSX sponsor to Vukile
IJG Securities (Proprietary) Limited
Date: 18/12/2009 13:00:02 Produced by the JSE SENS Department.
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