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HPA HPB
HPA
HPA/HPB - Hospitality Property Fund Limited - Terms of the rights offer and
renewal of cautionary
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 for B-linked units: HPB
ISIN for B-linked units: ZAE000076808
("Hospitality")
Unitholders are referred to Hospitality`s recent SENS announcements relating
to the rights offer, Hospitality`s medium term profit forecast and results
of general meeting.
TERMS OF THE RIGHTS OFFER
Following engagement with Hospitality`s largest unitholders, the pricing of
the rights offer has been settled. In terms of the rights offer:
- Hospitality A-linked unitholders will be offered 40.55818
Hospitality A-linked units for every 100 A-linked units held by
them on the record date for participation in the rights offer at a
subscription price of R11.48 per unit; and
- Hospitality B-linked unitholders will be offered 40.55818
Hospitality B-linked units for every 100 B-linked units held by
them on the record date for participation in the rights offer at a
subscription price of R3.25 per unit.
The effect of the above will be an issue of 36 million rights offer A-linked
units and 36 million rights offer B-linked units resulting in an amount of R
530.28 million being raised.
Hospitality is still engaging with unitholders to obtain the necessary
commitments to follow rights and/or agreements to underwrite in order to
undertake the rights offer and anticipates to be in a position to publish
the rights offer timetable within the next week to 10 days.
The rights offer circular will contain the complete profit forecast for the
years ending 30 June 2012, 2013 and 2014 together with detailed assumptions.
RENEWAL OF CAUTIONARY
While Hospitality continues to engage with unitholders to obtain the
commitments to follow rights and/or to underwrite the rights offer
Hospitality linked unitholders are advised to continue to exercise caution
when dealing in their linked units.
Johannesburg
10 April 2012
Corporate advisor and lead transaction sponsor
Java Capital
Reporting accountants
KPMG Inc
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 10/04/2012 12:32:04 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,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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