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RDF/AWA/AWB - Redefine Properties Limited/Arrowhead Properties Limited -
Unbundling of Arrowhead
Redefine Properties Limited
(Registration No. 1999/018591/06)
JSE code: RDF ISIN Code: ZAE000143178
("Redefine" or "the company")
Arrowhead Properties Limited
(formerly Nervada Trading 13 (Proprietary) Limited)
(Registration number 2011/000308/06)
JSE code: AWA ISIN: ZAE000158101
JSE code: AWB ISIN: ZAE000158119
("Arrowhead")
UNBUNDLING OF ARROWHEAD
Redefine linked unitholders are referred to the circular to Redefine linked
unitholders dated 30 September 2011 (the "unbundling circular") relating
to, inter alia, the distribution (the "distribution") of the Arrowhead
shares and the Arrowhead debentures (collectively "Arrowhead linked units")
to Redefine linked unitholders.
The unbundling circular provides that if a Redefine linked unitholder
becomes entitled to a fraction of an Arrowhead linked unit, the relevant
fraction will be rounded up or down to the nearest whole number and that
Redefine linked unitholders who hold 31 or less Redefine linked units shall
have their proportionate entitlement to Arrowhead linked units sold on
their behalf and receive the cash proceeds thereof.
The JSE has advised that the proposed sale of the proportionate entitlement
to Arrowhead linked units of Redefine linked unitholders who hold 31 or
less Redefine linked units on the record date is problematic and may be
construed as unequal treatment of Redefine unitholders. Accordingly the
rounding principle shall be applied to all Redefine linked unitholders
regardless of the number of linked units held by them on the record date.
The effect of this is such that those Redefine linked unitholders holding
between 16 and 31 Redefine linked units on the record date shall receive 1
Arrowhead A linked unit and 1 Arrowhead B linked unit and those Redefine
linked unitholders holding 15 or less Redefine linked units on the record
date shall not receive any Arrowhead linked units. Redefine linked
unitholders holding 32 or more Redefine linked units on the record date
shall receive their entitlement in accordance with the table of entitlement
contained in Annexure 8 to the unbundling circular.
Johannesburg
8 December 2011
Corporate advisor, legal advisor and sponsor to Redefine and Arrowhead
Java Capital
Date: 08/12/2011 17:02:17 Produced by the JSE SENS Department.
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