Calulo - Acquisition Of Linked Units By BEE Compan
CLO
CLO
Calulo - Acquisition Of Linked Units By BEE Company
CALULO PROPERTY FUND LIMITED
(formerly ANNUITY PROPERTY FUND LIMITED)
(Incorporated in the Republic of South Africa)
(Reg No. 1987/006274/06)
Share code: CLO ISIN: ZAE000060711
("Calulo", or "the company")
JOINT STATEMENT BY CALULO PROPERTY FUND LIMITED AND MATEMEKU 104 (PTY) LIMITED
(COMPANY REGISTRATION NUMBER 2004/022058/07) ("MATEMEKU")
The directors of Calulo are delighted to announce that Matemeku, a black owned
company controlled by Moss Mashishi, has acquired 20 952 381 linked units in
Calulo, comprising 28% of the issued linked units in the company. This
transaction brings a second major black empowered shareholder into Calulo,
together with Calulo Properties (Pty) Ltd., taking BEE ownership of the Fund to
50%. There is no voting agreement between the two empowerment unitholders.
The enhanced empowerment status of Calulo will provide the building blocks
essential to ensure Calulo meets its initial growth aspirations over the next
few years, whilst providing a BEE platform to the listed property sector that
will be sustainable.
RESTRUCTURE OF THE BOARD
As a result of this transaction, Moss Mashishi and Tidimalo Khobane will be
invited to join the Calulo Board in due course, subject to the necessary
regulatory approvals.
FUTURE VISION
Both unitholders remain committed to growing Calulo to a level of R2 billion by
the end of 2007 whilst maintaining the BEE status of Calulo at levels that are
equal to or exceed those set out in the draft Property Charter. The acquisition
of value enhancing government leased properties remains a priority for Calulo
going forward. However, should Calulo emerge as the BEE landlord of choice, as
might be expected, Calulo will also consider the acquisition of other listed
property equities. This will facilitate the empowerment of these counters, where
such acquisitions make economic sense for all stakeholders, potentially making
Calulo a preferred property empowerment partner to other listed property funds.
JOHANNESBURG
3 March 2006
SPONSOR AND CORPORATE ADVISER
SASFIN CAPITAL
A division of Sasfin Bank Limited
Date: 03/03/2006 05:32:54 PM Produced by the JSE SENS Department
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