| Fri 5 Aug 2011, 14:52 | | VPF - Vunani Property Investment Fund Limited - Results of the private |
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JSE
VPF
VPF - Vunani Property Investment Fund Limited - Results of the private
placement and fulfillment of conditions to listing
Vunani Property Investment Fund Limited
(Registration number: 2005/019302/06)
(formerly Vunani Property Investment Fund (Proprietary) Limited)
ISIN: ZAE000157459
JSE code: VPF
("VPIF" or "the Company" or "the fund")
RESULTS OF THE PRIVATE PLACEMENT AND FULFILLMENT OF CONDITIONS TO LISTING
Reference is made to the pre-listing statement issued by VPIF dated 5 July
2011 and the abridged pre-listing statement published on SENS on 18 July
2011, relating to the private placing, for acceptance only by eligible
investors, by way of an offer to subscribe for a maximum of 66 334 357 new
VPIF units and an offer for sale of 22 232 113 VPIF units.
The private placement was well subscribed, resulting in the bookrunners
placing 88 267 788 VPIF linked units at a placing price of 705 cents (R622
million). Of the linked units placed, 63 594 081 (R448 million) new units
will be issued by the company with the balance being sold on behalf of
Vunani Properties (Proprietary) Limited and Hyprop Limited.
The conditions to which the listing was subject, namely:
* VPIF obtaining a spread of unit holders acceptable to the JSE Limited
("JSE");
* the approval by Vunani Limited shareholders of the listing of VPIF;
* the minimum subscription being received; and
* the registration of transfer of the Athol Ridge property to VPIF;
have been fulfilled.
Accordingly, the listing of VPIF on the Main Board of the exchange operated
by the JSE in the "Real Estate - Real Estate Holdings and Development"
sector of the JSE List, in terms of the FTSE classification, will take
effect from the commencement of trade on Thursday, 11 August 2011.
Sandton
5 August 2011
Corporate Adviser, Joint Sponsor and Joint Bookrunner
Vunani Corporate Finance (trading as a division of Vunani Capital
(Proprietary) Limited)
Investment Bank and Joint Bookrunner
Investec Corporate Finance (trading as a division of Investec Bank Limited)
Independent Lead Sponsor
Grindrod Bank Limited
Independent reporting accountants and auditors
KPMG Incorporated
Legal adviser
Edward Nathan Sonnenbergs Incorporated
Independent valuer
Mills Fitchet Magnus Pennny (Proprietary) Limited
Date: 05/08/2011 14:52:01 Produced by the JSE SENS Department.
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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,
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