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HPA HPB
HPA
HPA/HPB - Hospitality Property Fund Limited - Results of the general meeting
to approve transaction
Hospitality Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/014211/06)
Share code for A-linked units: HPA
ISIN for A-linked units: ZAE000076790
Share code for B-linked units: HPB
ISIN for B-linked units: ZAE000076808
("Hospitality")
RESULTS OF THE GENERAL MEETING TO APPROVE TRANSACTION
Linked unitholders are advised that at the general meeting of Hospitality
linked unitholders held on Friday, 12 November 2010, all of the resolutions
required to implement the proposed acquisition by Hospitality of the property
letting and hotel businesses carried on under the name of The Westin Grand
Cape Town Arabella Quays Hotel ("the Westin") and the Arabella Western Cape
Hotel and Spa ("AWCHS") together with certain properties and the Paulaner
Brauhaus Restaurant and micro-brewery business ("the transaction"), were
passed by the requisite majorities.
The transaction is subject to fulfilment or waiver (where applicable) of the
following conditions precedent:
- the obtaining of various third party approvals required pursuant to
existing leases and sub-leases, including the approval of the Cape Town
International Convention Centre Company (Proprietary) Limited
("Convenco") to the assignment of the tenant`s rights in terms of the
sub-lease between the sellers of the Westin and Convenco to HPF
Properties (Proprietary) Limited (a wholly-owned subsidiary of
Hospitality), as well as the conclusion of new leases in respect of the
Westin and AWCHS; and
- the signature of management agreements with Starwood Hotels and Resorts
Worldwide, Inc. and Starwood EAM License and Services Company BVBA for
the management and licensing of the Westin.
12 November 2010
Lead transaction sponsor and corporate advisor
Java Capital
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Independent reporting accountants and auditors
KPMG Inc.
Legal advisor to Hospitality
Mkhabela Huntley Adekeye Inc.
Date: 12/11/2010 15:00:01 Produced by the JSE SENS Department.
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