| Mon 24 Oct 2016, 14:40 | | EQUITES PROPERTY FUND LIMITED - Specific authority to issue shares for cash and posting of circular and notice of general meeting |
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EQU 201610240032A
Specific authority to issue shares for cash and posting of circular and notice of general meeting
EQUITES PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/080877/06)
JSE share code: EQU
ISIN: ZAE000188843
(Approved as a REIT by the JSE)
(“Equites” or “the company”)
SPECIFIC AUTHORITY TO ISSUE SHARES FOR CASH AND POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING
1. Posting of circular and notice of general meeting
Equites shareholders are advised that Equites has, on 24 October 2016, posted a circular (the “circular”)
relating to a specific authority to issue shares for cash in terms of the JSE Listings Requirements (the “specific
issue authority”).
Copies of the circular may be obtained from the registered offices of Equites, 14th Floor, Portside Tower, 4 Bree
Street, Cape Town, 8000, and from the company’s transfer secretaries, Trifecta Capital Services Proprietary
Limited (Trifecta Capital House, 31 Beacon Road, Florida North, 1790) during normal business hours. The
circular will also be available in electronic form on the website of the company (www.equites.co.za).
Included in the circular is a notice of general meeting of Equites shareholders, which general meeting is to be
held at the offices of Cliffe Dekker Hofmeyr Inc (5th Floor, 11 Buitengracht Street, Cape Town, 8000) at 10:00
on Tuesday, 22 November 2016 to consider and, if deemed fit, pass, with or without modification, the
resolutions necessary to give effect to the specific issue authority.
2. Terms of the specific issue authority
Equites is seeking a specific authority to issue up to 100 million Equites shares for cash initially in order to
reduce the company’s gearing and subsequently finance Equites’ pipeline of developments and acquisitions.
Pursuant to the specific issue authority Equites may undertake one or more private placements (the
“placements”). Existing Equites shareholders as well as institutional investors who have expressed an interest
in acquiring additional Equites shares will, subject to meeting the minimum subscription (R1 000 000 per
investor acting as principal), be invited to participate in such placements.
Participants in the relevant placement will submit their price and volume orders into a book of demand and a
single clearing price, being the relevant placement price, will be established. The maximum discount at which
the placement shares will be issued is a 5% discount to the lower of:
- the volume weighted average traded price per Equites share for the 30 business days prior to the date on
which the placement price is set or agreed to by Equites, adjusted for a dividend where the ‘ex’ date in
respect of the dividend occurs during the 30 day period; or
- the market value of Equites shares on the day prior to the date on which the placement price is set or
agreed to by Equites.
The specific issue authority is conditional upon the shareholders of Equites providing all such necessary
authorisations, and approvals as may be required by them to give effect to the specific issue authority, including
an authority to issue shares in terms of section 41(3) of the Companies Act, 71 of 2008.
3. Salient dates and times
2016
Record date to be entitled to receive this circular Friday, 14 October
Circular posted to Equites shareholders on Monday, 24 October
Announcement of posting of circular and notice of general meeting on SENS on Monday, 24 October
Announcement of posting of circular and notice of general meeting in the press on Tuesday, 25 October
Last day to trade in order to attend and vote at the general meeting Tuesday, 8 November
Record date in order to be eligible to attend and vote at the general meeting Friday, 11 November
Receipt of forms of proxy in respect of the general meeting of Equites shareholders by 10:00 Friday, 18 November
on
The general meeting to be held at 10:00 on Tuesday, 22 November
Results of the general meeting and finalisation announcement released on SENS on Tuesday, 22 November
The above dates and times are local dates and times in South Africa and are subject to change. Any changes will be
released on SENS and, if required, published in the press.
24 October 2016
Corporate advisor and sponsor
Java Capital
Date: 24/10/2016 02:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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