ACP SYC 201401300001A
Joint cautionary announcement
Acucap Properties Limited Sycom Property Fund
(Incorporated in the Republic of South A Collective Investment Scheme in Property
Africa) ("CISP") registered in terms of the Collective
(Registration number 2001/021725/06) Investment Schemes Control Act, No. 45 of 2002
Share code: ACP and managed by Sycom Property Fund
ISIN: ZAE000037651 Managers Limited
(“Acucap”) (Registration number 1986/002756/06)
Share code: SYC ISIN: ZAE000019303
(“Sycom”)
Joint cautionary announcement
The board of directors of Acucap and an independent committee of the board of directors of Sycom
Property Fund Managers Limited (“SPFM”), which comprises only those SPFM directors who are not
also directors of Acucap (“the Sycom Independent Board”), advise that they are in discussions
concerning a possible merger of Acucap and Sycom. The Acucap board and the Sycom Independent
Board are exploring a transaction, the terms of which will be favourable to both Acucap linked
unitholders and Sycom unitholders (collectively "Unitholders").
Unitholders are further advised that the Competition Tribunal has approved a merger between Acucap
and Sycom without any conditions.
Unitholders will be kept informed as discussions progress and accordingly, are advised to exercise
caution when dealing in their Acucap linked units and Sycom units respectively, until such time as a
further announcement is made.
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