Calulo - Results of offer to Calulo minority unitholders and transfer of
acquired properties
CALULO PROPERTY FUND LIMITED
(Formerly Annuity Property Fund Limited)
(Incorporated in the Republic of South Africa)
(Registration no. 1987/006274/06)
Share code CLO ISIN: ZAE000060711
(`Calulo`)
RESULTS OF OFFER TO CALULO MINORITY UNITHOLDERS AND TRANSFER OF ACQUIRED
PROPERTIES
LISTING OF 74 168 400 NEW LINKED UNITS
Transfer of properties
Further to the circular sent to the Calulo unitholders dated 11 March 2005 and
the results announcement on 29 March 2005, Sasfin Corporate Finance, a division
of Sasfin Bank Limited, is authorised to announce the transfer of properties
acquired by Calulo and the results of the mandatory offer to minority
unitholders.
The Listing of 74 168 400 new linked units was conditional upon registration of
transfer of 17 properties with a value of R365 million. At today`s date, 14
properties have been transferred totaling R266 million and the remaining
properties valued at R99 million, have been lodged for transfer.
The JSE Securities Exchange South Africa (`JSE`) has approved the listing of 74
168 400 new linked units relating to the transferred properties with effect from
the commencement of business on Friday, 22 April 2005.
An announcement will be made on SENS once transfer of the remaining properties
has taken place.
Mandatory Offer
The mandatory offer by Calulo Investments (Pty) Limited to Calulo linked
unitholders, to acquire their offer linked units for 210 cents per linked unit
was accepted by unitholders representing 7 602 linked units, being 2% of the
total units in respect of which the offer was made.
Cape Town
21 April 2005
Corporate adviser and sponsor
Sasfin Corporate Finance
A division of Sasfin Bank Limited
Attorneys
Cliffe Dekker
Lead reporting accountants
KPMG
Auditors and reporting accountants
PWC
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