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AWA AWB
ARROW
AWA/AWB - Arrowhead Properties Limited - Financial effects relating to the
acquisition of Property Portfolios from each of Growthpoint Properties Ltd, the
trustees for the time being of the Growthpoint Securitisation Warehouse trust
and Paramount Property Fund Ltd
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")
FINANCIAL EFFECTS RELATING TO THE ACQUISITION OF PROPERTY PORTFOLIOS FROM EACH
OF GROWTHPOINT PROPERTIES LIMITED ("GROWTHPOINT"), THE TRUSTEES FOR THE TIME
BEING OF THE GROWTHPOINT SECURITISATION WAREHOUSE TRUST ("GSWT") AND PARAMOUNT
PROPERTY FUND LIMITED ("PARAMOUNT")
INTRODUCTION
Linked unitholders are referred to the announcement released on SENS on 16 March
2012 in which it was announced that Arrowhead had concluded a binding agreement
for the acquisition of property portfolios from Growthpoint, GSWT and Paramount
("the acquisition") for an aggregate consideration of R167.6 million.
The purpose of this announcement is to present the financial effects of the
acquisition.
UNAUDITED PRO FORMA FINANCIAL EFFECTS OF THE ACQUISITION
The effect of the acquisition on Arrowhead`s net asset value, earnings and
headline earnings per A linked unit and B linked unit and distribution per A
linked unit and B linked unit is not significant and therefore has not been
disclosed.
The unaudited pro forma financial effects of the acquisition were calculated
based on Arrowhead`s pro forma forecast for the year ending 30 September 2012
and unaudited consolidated pro forma statement of financial position as at 31
August 2011, as contained in Arrowhead`s pre-listing statement dated 30
September 2011. The financial information relating to the property portfolios
acquired has been extracted from the management accounts of each of Growthpoint,
GSWT and Paramount for the 12 month period to 30 June 2011. The management of
Arrowhead is satisfied with the quality of the information contained in these
management accounts.
CAUTIONARY
Arrowhead linked unitholders are advised that following the release of the
financial effects of the acquisition, caution is no longer required to be
exercised by linked unitholders in relation to the acquisition.
However Arrowhead linked unitholders are referred to the cautionary announcement
dated 3 May 2012 and are advised that notwithstanding the announcement of the
financial effects of the acquisition the company remains under cautionary and
are accordingly advised to continue to exercise caution when dealing in their
securities in the company.
Johannesburg
4 May 2012
Corporate advisor and sponsor
Java Capital
Date: 04/05/2012 16:06:42 Produced by the JSE SENS Department.
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howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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