| Mon 11 Apr 2011, 8:56 | | FPT - Fountainhead Property Trust - Results of the rights offer |
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FPT
FPT
FPT - Fountainhead Property Trust - Results of the rights offer
Fountainhead Property Trust
JSE code: FPT
ISIN: ZAE000097416
("Fountainhead")
a portfolio forming part of the Fountainhead Property Trust Scheme ("the
Scheme"), a collective investment scheme in property established in terms of the
Collective Investment Schemes Control Act, No. 45 of 2002, as amended, and
managed by
Fountainhead Property Trust Management Limited
(Registration number 1983/003324/06)
RESULTS OF THE RIGHTS OFFER
1. Results of the Rights Offer
Fountainhead unitholders are referred to the announcements released on the
Securities Exchange News Service ("SENS") of the JSE Limited ("JSE") on 21
February 2011 and 4 March 2011 in which Fountainhead announced its R1.0 billion
rights offer (the "Rights Offer"). In terms of the Rights Offer, 166 666 667 new
Fountainhead units ("Rights Offer Units") were offered at a subscription price
of 600 cents per Rights Offer Unit.
The Rights Offer closed at 12:00 on Friday, 8 April 2011 and the results thereof
are set out in the table below.
Number of % of Rights
Rights Offer Offer Units
Units
Rights Offer Units available for 166 666 667 100.0
subscription
Rights Offer Units subscribed for 161 208 229 96.7
Excess Rights Offer Units applied for 29 830 158 17.9
Excess Rights Offer Units available 5 458 438 3.3
for allocation
2. Issue of Rights Offer Units
Unit certificates will be posted to holders of certificated units who have
followed their rights, on Monday, 11 April 2011.
The Central Securities Depository Participant ("CSDP") or broker accounts of
holders of dematerialised units or their renouncees, who have followed their
rights, will be credited with the Rights Offer Units and debited with any
payments due on Monday, 11 April 2011.
3. Excess applications
The excess Rights Offer Units applied for will be allocated in a manner viewed
as equitable in terms of the Listings Requirements of the JSE, taking cognisance
of the number of units held by the unitholder, including those taken up as a
result of the Rights Offer, and the number of excess Rights Offer Units applied
for by such unitholder.
Unit certificates and/or refund cheques will be posted to holders of
certificated units who have applied for excess Rights Offer Units, on or about
Wednesday, 13 April 2011.
The CSDP or broker accounts of holders of dematerialised units who have applied
for excess Rights Offer Units, will be credited with the excess Rights Offer
Units and debited with any payments due, on or about Wednesday, 13 April 2011.
Johannesburg
11 April 2011
Investment bank and sponsor
Standard Bank
Independent sponsor
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited
Independent reporting accountants
KPMG Inc.
Legal adviser
Edward Nathan Sonnenbergs Inc.
Date: 11/04/2011 08:56:21 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.
