| Thu 8 Sep 2011, 9:00 | | HPA/HPB - Hospitality Property Fund Limited - Dealings in securities by an |
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HPA HPB
HPA
HPA/HPB - Hospitality Property Fund Limited - Dealings in securities by an
associate of a director
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 of B linked units: HPB
ISIN for B linked units: ZAE000076808
("Hospitality")
DEALINGS IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR
In terms of the Listings Requirements of the JSE Limited, the following
information, relating to dealings in securities by directors, is disclosed:
Director: G A Nelson and Z N Kubukeli, who are
directors and indirect shareholders of
Nobuntu Investments II (Pty) Ltd, the entity
which is part of the transaction#
Company: Hospitality
Date of transaction: 7 September 2011
Nature of transaction: Transfer of rights, title and interest in
terms of a pledge and security cession
agreement*
Transactions completed: Off market
Class of securities: HPA
Number of securities transferred: 9 513 012 HPA#
Transfer price: R13.85 per HPA
Value of transaction: R131 755 216.20
Nature of interest: Indirect beneficial
Class of securities: HPB
Number of securities transferred: 9 513 012 HPB#
Transfer price: R6.15 per HPB
Value of transaction: R58 505 023.80
Nature of interest: Indirect beneficial
* Nobuntu Investments II (Pty) Ltd ("Nobuntu"), is one of Hospitality`s
empowerment investment structures. As a consequence of the current trading
conditions in the hotel industry and the impact that this has had on the
distributions and market price of the HPB`s, Nobuntu is in a technical breach
of its loan covenants with Absa Bank Limited ("the Lender") in terms of a loan
agreement between the parties. The Lender has as a result and in terms of a
Pledge and Security Cession entered into between the Lender and Nobuntu, taken
transfer of the rights, title and interest of 9 513 012 HPA and 9 513 012 HPB
units.
# G A Nelson and Z N Kubukeli are indirect shareholders of Nobuntu, with
indirect interests of 10,58% and 3,18% respectively, in each of the HPA and HPB
holdings of Nobuntu.
Johannesburg
8 September 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08/09/2011 09:00:10 Produced by the JSE SENS Department.
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