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Hyprop - Offer to unitholders of SA Retail Properties Limited
Hyprop Investments Limited
(Registration No. 1987/005284/06)
Share code: HYP ISIN code: ZAE000003430
(the `Hyprop` or `company`)
OFFER TO UNITHOLDERS OF SA RETAIL PROPERTIES LIMITED (`SA RETAIL`)
SA Retail and Hyprop linked unitholders are advised that the Competition
Tribunal has approved the implementation of Hyprop`s offer (`the offer`) to SA
Retail unitholders to acquire all of the SA Retail units that it does not
already own for a consideration (`the offer consideration`) of either 1 Hyprop
combined unit for every 2.7 units in respect of which the offer is accepted or
R8 in cash for every 1 SA Retail unit in respect of which the offer is accepted.
Hyprop combined units issued pursuant to the offer will rank for distributions
of income in respect of all periods after 1 July 2005. Full details of the offer
are contained in the circular to SA Retail unitholders dated 4 May 2005.
The offer is now unconditional and will remain open for acceptance until 12:00
on Friday, 9 September 2005.
SA Retail unitholders who have already accepted the offer will, in the case of
dematerialised unitholders have their CSDP or broker accounts credited with the
offer consideration by 31 August 2005 and, in the case of certificated
unitholders have the offer consideration posted to them by 31 August 2005.
Dematerialised SA Retail unitholders who wish to accept the offer must notify
their CSDP or broker accordingly by the cutof time stipulated by their CSDP or
broker in terms of the agreement with their CSDP or broker.
Certificated SA Retail unitholders must complete a form of acceptance and
surrender and return it in accordance with the terms and conditions set out
therein. Forms of acceptance and surrender were contained in the circular to SA
Retail unitholders and are available from the registered office of Hyprop and on
Hyprop`s website www.Hyprop.co.za.
The salient dates of the offer are set out below:
2005
Last day to trade Friday, 2 September
SA Retail unitholders trade `ex` the offer Monday, 5 September
Record date/closing date of the offer (12:00) Friday, 9 September
CSDP or broker accounts updated or credited with Within 5 business days of
the offer consideration the valid acceptance of
the offer
Offer consideration to be posted to certificated Within 5 business days
SA Retail unitholders after acceptance of the
offer and surrender of
documents of title
Results of offer to be announced on SENS Monday, 12 September
Results of the offer to announced in the press Tuesday, 13 September
Notes:
1. Certificated SA Retail unitholders may not dematerialise or re-materialise
their units between the business day after the last day of trade and the
record date, both days inclusive.
Johannesburg
24 August 2005
Corporate advisor, legal advisor and sponsor
Java Capital (Proprietary) Limited
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