| Fri 1 Oct 2010, 12:42 | | FPT - Fountainhead Property Trust - Amendments to The Trust Deed and results of |
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FPT
FPT
FPT - Fountainhead Property Trust - Amendments to The Trust Deed and results of
Ballot
Fountainhead Property Trust
A Collective Investment Scheme in property registered in terms of the Collective
Investment Schemes Control Act, No.45 of 2002 and managed by Fountainhead
Property Trust Management Limited
(Registration number 1983/003324/06)
Share code: FPT
ISIN code: ZAE000097416
("Fountainhead")
AMENDMENTS TO THE TRUST DEED AND RESULTS OF BALLOT
1. INTRODUCTION
Unitholders are referred to the memorandum to unitholders issued on 22 July 2010
which sets out a proposed amendment ("the Proposed Amendment") to the trust deed
("the Deed") establishing the Fountainhead Property Trust Scheme ("the Scheme"),
which had been agreed to between Fountainhead Property Trust Management Limited
("Manager") and Absa Bank Limited ("Trustee") and approved by the Registrar of
Collective Investment Schemes ("Registrar").
2. THE PROPOSED AMENDMENT
The Manager and the Trustee proposed increasing the borrowing capacity of the
Fountainhead portfolio under the Scheme from the current limit of 30% of the
value of the underlying assets to 40% of such value. The implementation of the
Proposed Amendment to the Deed was subject to the fulfilment of the condition
precedent, amongst others, by no later than 3 September 2010, that the written
consent of the majority of unitholders constituting a quorum, be received.
3. RESULTS OF THE BALLOT
A memorandum containing the ballot papers and incorporating the salient features
of the Proposed Amendment was posted to all unitholders on 22 July 2010.
Unitholders were requested to complete the ballots and to return them to KPMG,
the auditors of the Scheme, by 3 September 2010. A sufficient number of ballots
were received and, of those, a requisite majority voted in favour of the
Proposed Amendment.
4. APPROVAL OF THE SUPPLEMENTAL DEED BY THE REGISTRAR OF COLLECTIVE INVESTMENT
SCHEMES AND EFFECTIVE DATE
Following the fulfilment of the condition precedent mentioned in paragraph 2
above, approval of the supplemental deed containing the Proposed Amendment, was
granted by the Registrar of Collective Investment Schemes. The effective date of
the supplemental deed is 1 October 2010.
Sandton
1 October 2010
Sponsor
Standard Bank
Date: 01/10/2010 12:42:02 Produced by the JSE SENS Department.
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