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RIN
RIN
RIN - Redefine Properties International Limited - Shopping Centre Debt
Restructuring
Redefine Properties International Limited
(formerly Kalpafon Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2010/009284/06)
JSE share code: RIN ISIN Code: ZAE000149282
("Redefine International" or the "Company")
Shopping Centre Debt Restructuring
Further to the announcement dated 16 July 2010 which was released on RNS by
Redefine International plc, Redefine International is pleased to announce that
agreements between Aviva Commercial Finance Limited ("Aviva") and subsidiaries
of Redefine International in relation to the restructuring of the senior debt
facilities on the Birchwood Shopping Centre, Warrington; Delamere Place Shopping
Centre, Crewe; West Orchards Shopping Centre, Coventry; Byron Place Shopping
Centre, Seaham; and the Grand Arcade Shopping Centre, Wigan, were completed on
13 September 2010. As part of the process Company Voluntary Arrangements were
successfully implemented on the two companies that own the Grand Arcade Shopping
Centre on 8 September 2010.
Commenting on the transaction, Redefine International chairman Gavin Tipper said
"The restructuring is expected to be of significant benefit to Redefine
International in the medium to long term. The 25 year average term of the debt
and the absence of any loan to value covenants is particularly attractive in the
current economic environment."
14 September 2010
Redefine International plc +27(0)21 683 3829
Gavin Tipper - Chairman
Singer Capital Markets +44(0)203 205 7500
Jeff Keating / Nick Donovan
Powerscourt +44(0)207 250 1446
Matthew Fletcher / Karen Le
Cannu
Redefine International Fund +1 (284) 494 9820
Managers Ltd
Miles Walton
South African sponsor +27 (0)11 283 0042
Java Capital
Date: 14/09/2010 14:46:01 Produced by the JSE SENS Department.
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