| Tue 1 Oct 2013, 15:00 | | SYCOM PROPERTY FUND - SYC - Finalisation of the AECI Pension Fund and Hyprop Somerset Mall Transactions |
|
SYC 201310010047A
SYC - Finalisation of the AECI Pension Fund and Hyprop Somerset Mall Transactions
SYCOM PROPERTY FUND
A Collective Investment Scheme in Property ("CISP") registered in terms of the Collective Investment
Schemes Control Act, No. 45 of 2002 and managed by Sycom Property Fund Managers Limited
("SPFM")
(Registration number 1986/002756/06)
JSE Share code: SYC
ISIN: ZAE000019303
("Sycom” or the “Fund”)
(Granted REIT status by the JSE, effective 1 April 2013)
FINALISATION OF THE AECI PENSION FUND AND HYPROP SOMERSET MALL TRANSACTIONS
Sycom unitholders are referred to the announcement published on the Stock Exchange News Service
of the JSE Limited ("SENS") on 29 July 2013 and in the press on 30 July 2013 wherein unitholders
were advised that all the conditions precedent to the proposed acquisition of the remaining 50% of the
Somerset Mall Shopping Centre (“the AECIA PF Share" and the "Somerset Mall") not already held by
Sycom from AECI Pension Fund ("the AECI PF Transaction"), had been met and the AECI PF
Transaction was unconditional.
Unitholders are advised that transfer of the AECI PF Share to Sycom, being the only remaining
condition to effect the disposal of the entire Somerset Mall to Hyprop Investments Limited ("Hyprop")
and the subsequent transfer of the entire Somerset Mall to Hyprop were both registered today,
Tuesday, 1 October 2013, rendering the Hyprop Transaction unconditional. The repurchase of
81,500,000 Sycom units held by Hyprop in settlement of the purchase consideration to Sycom
Property Fund Managers Limited is being effected. The 81,500,000 Sycom units will be delisted and
cancelled. The withdrawal of the Hyprop court application is also being attended to.
Cape Town
1 October 2013
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)
Legal advisor
DLA Cliffe Dekker Hofmeyr
Date: 01/10/2013 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, 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.
