RDF - Redefine Properties Limited - Potential acquisition of a property
RDF
RDF
RDF - Redefine Properties Limited - Potential acquisition of a property
portfolio from Zenprop and cautionary announcement
Redefine Properties Limited
(Formerly Redefine Income Fund Limited)
(Registration No. 1999/018591/06)
Share Code: RDF ISIN Code: ZAE000143178
("Redefine")
POTENTIAL ACQUISITION OF A PROPERTY PORTFOLIO FROM ZENPROP AND CAUTIONARY
ANNOUNCEMENT
Linked unitholders are advised that Redefine has concluded a framework
agreement with Zenprop Property Holdings Limited ("Zenprop") for the
acquisition of seven high quality investment properties from various entities
within the Zenprop group for an aggregate purchase consideration of
approximately R1.1 billion.
Separate agreements governing the acquisition of each of the individual
properties still need to be concluded and, in some cases, are subject to the
waiver of pre-emptive rights by and/or receipt of approvals from certain
parties.
In addition the framework agreement provides that, subject to receipt of
certain statutory approvals by 31 December 2012, Redefine will acquire the
properties known as the Nicol Grove precinct for a consideration of
approximately R875 million.
The potential acquisitions are in line with Redefine`s strategy to improve
the quality of its property portfolio through a focus on larger, high-grade
investment properties
It is likely that, on the conclusion of the underlying agreements, the
acquisitions will constitute a category 2 transaction and a detailed
announcement containing all the information required in terms of the JSE
Listings Requirements and including pro forma financial effects will then be
released. Linked unitholders are advised to exercise caution when trading in
their Redefine linked units until such an announcement is made.
4 May 2011
Corporate advisor and sponsor
Java Capital
Date: 04/05/2011 15:12:51 Produced by the JSE SENS Department.
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