| Fri 31 Jan 2014, 17:30 | | FAIRVEST PROPERTY HOLDINGS LIMITED - Vukile Acquisition implemented disclosure of acquisition of securities |
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FVT 201401310063A
Vukile Acquisition implemented, disclosure of acquisition of securities
Fairvest Property Holdings Limited
Incorporated in the Republic of South Africa
(Registration number: 1998/005011/06)
Linked unit code: FVT ISIN: ZAE000034658
(“the Company”)
VUKILE ACQUISITION IMPLEMENTED, DISCLOSURE OF ACQUISITION OF SECURITIES
1. VUKILE ACQUISITION IMPLEMENTED
1.1. Linked unitholders are referred to the Company’s SENS announcements
dated 10 October 2013, 22 November 2013 and 24 December 2013,
regarding the acquisition by the Company from Vukile Property Fund
Limited (“Vukile”) and Vukile’s subsidiary, MICC Properties
Proprietary Limited (“MICC”), of a portfolio of retail properties
(“Acquisition Portfolio”)(“Vukile Acquisition”).
1.2. Linked unitholders are further referred to the the Company’s
circular to linked unitholders dated 22 November 2013, regarding the
Vukile Acquisition.
1.3. As indicated in the Company’s SENS announcement dated 24 December
2013, at the Company’s general meeting on the same date, linked
unitholders passed all resolutions required for the approval of the
Vukile Acquisition and for the accompanying acquisition issue of new
linked units to Vukile and MICC in consideration for the Acquisition
Portfolio (“Acquisition Issue”).
1.4. Linked unitholders are advised that registration of transfer to the
Company of the final property in the Acquisition Portfolio, occurred
on Thursday, 30 January 2014, with the corresponding acquisition
linked units being issued by the Company and listing today, 31
January 2014. All of the properties forming part of the Acquisition
Portfolio have now been acquired by the Company and the Vukile
Acquisition has accordingly now been implemented.
1.5. The Company confirms that a total of 167 873 969 ordinary linked
units were issued to Vukile and MICC in terms of the Acquisition
Issue at an issue price of R1.40 per Acquisition Linked Unit.
Following the issuing of the abovementioned acquisition linked
units, the Company’s issued linked unit capital has increased to
527 636 276 ordinary linked units.
2. DISCLOSURE OF ACQUISITION OF SECURITIES
In accordance with section 122(3)(b) of the Companies Act, No 71 of
2008 and paragraph 3.83(b) of the Listings Requirements of the JSE
Limited, linked unitholders are hereby advised that the Company has
today received formal notification, in the prescribed form, that:
2.1. Vukile has acquired a beneficial interest in securities of the
Company, such that the total beneficial interest in the securities
of the Company held by Vukile amounts to 7.58% of the total issued
ordinary linked unit capital of the Company; and
2.2. MICC has acquired a beneficial interest in securities of the
Company, such that the total beneficial interest in the securities
of the Company held by MICC amounts to 24.64% of the total issued
ordinary linked unit capital of the Company.
31 January 2014
Cape Town
Sponsor and Corporate Adviser: PSG Capital
Date: 31/01/2014 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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