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RDF - Redefine Properties Limited - Cautionary announcement
Redefine Properties Limited
(Registration No. 1999/018591/06)
Share Code: RDF ISIN Code: ZAE000143178
("Redefine")
CAUTIONARY ANNOUNCEMENT
Linked unitholders are referred to the announcement released on SENS on 30 March
2012 regarding the acquisition by Redefine of the management company ("Manco")
of the Fountainhead Property Trust ("Fountainhead").
As set out in the previous announcement, subject to the acquisition of the Manco
as well as the requisite support of Redefine and Fountainhead unitholders,
Redefine intends making an offer to acquire all of the assets of Fountainhead
(the "Fountainhead acquisition") in return for units in Redefine and Hyprop
Investments Limited (the "consideration units").
Redefine intends having discussions with key Redefine and Fountainhead
unitholders over the next few weeks in order to gauge their views on and support
for the Fountainhead acquisition. In this regard a presentation has been
prepared that is based on publicly available information in relation to
Fountainhead and that provides an overview of the combined Redefine and
Fountainhead property portfolio. A copy of the presentation is available on the
Redefine web-site - www.redefine.co.za.
The presentation includes a statement that it is anticipated that the
Fountainhead acquisition would have the effect of increasing Redefine`s
distributable earnings by at least 2 cents per unit per annum. These figures
have not been reviewed or reported on by Redefines auditors and are based on
publicly available information and the assumption (as set out in the previous
announcement) that the offer will be priced at a level that, on the distribution
of the consideration units, would result in a Fountainhead unitholder receiving
Hyprop and Redefine units with a value at or about the `clean` price at which
Fountainhead units were trading on the date of that announcement.
Redefine unitholders are advised to exercise caution when dealing in their
Redefine units until further announcements are made.
Johannesburg
5 April 2011
Corporate advisor, legal advisor and sponsor
Java Capital
Date: 05/04/2012 08:16:01 Produced by the JSE SENS Department.
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