HPA\HPB - Hospitality Property Fund Limited - Results of the Rights Offer
HPA HPB
HPA
HPA\HPB - Hospitality Property Fund Limited - Results of the Rights Offer
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")
RESULTS OF THE RIGHTS OFFER
Linked unitholders are referred to the rights offer to Hospitality linked
unitholders which closed on Friday, 15 June 2012 (the "rights offer") and
are advised that linked unitholders and/or their renouncees applied for
35 805 005 A-linked units and 35 438 253 B-linked units, comprising 99.46%
and 98.44% respectively of the 36 000 000 Hospitality A and B linked units
offered in terms of the rights offer. The rights offer did not provide for
excess applications and the balance of 194 995 A-linked units and 561 747
B-linked units will be subscribed for by the underwriters pursuant to
their underwriting obligations.
Dematerialised linked unitholders who have subscribed for linked units in terms
of the rights offer will have their accounts debited and updated by their
CSDP/broker on Monday, 18 June 2012. Certificated linked unitholders who have
subscribed for rights offer linked units will have certificates posted to them
on Wednesday, 20 June 2012.
The proceeds from the rights offer will be used by Hospitality to repay the
bridging facility provided by Absa, with the balance of the bridging facility
being converted into a R850 million term loan term facility (of which Absa will
provide R550 million and Nedbank R300 million) materially on the terms set out
in the rights offer circular.
Johannesburg
18 June 2012
Lead transaction sponsor and corporate advisor
Java Capital
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 18/06/2012 15:13:02 Produced by the JSE SENS Department.
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