Vukile/ MICC - Update on the acquisition of all re
MCP VKE
MCP VKE
Vukile/ MICC - Update on the acquisition of all remaining linked units in MICC
Vukile Property Fund Limited
(Incorporated in the Republic of South Africa)
Registration number 2002/027194/06
JSE code: VKE & ISIN: ZAE000056370
("Vukile")
MICC Property Income Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/013404/06)
JSE code: MCP & NSX code: MCO
ISIN: ZAE000050175
("MICC")
UPDATE ON THE ACQUISITION OF ALL REMAINING LINKED UNITS IN MICC BY VUKILE IN
TERMS OF SECTION 440K OF THE COMPANIES ACT, ACT 61 OF 1973, AS AMENDED
CAUTIONARY ANNOUNCEMENT
Linked unitholders are referred to the joint announcement by Vukile and MICC
dated 16 March 2006 wherein Vukile confirmed that it would be invoking the
provisions of section 440K of the Companies Act, Act 61 of 1973, as amended
("section 440K") to compulsorily acquire all of the linked units in MICC which
it does not already hold.
In this regard, linked unitholders are informed that a linked unitholder owning
9 825 MICC linked units (representing 0.01% of MICC"s total issued capital)
filed an application with the High Court on Friday, 28 April 2006 opposing
Vukile"s invoking of section 440K. Vukile intends opposing the application. A
date for hearing of the application has not yet been determined. Linked
unitholders will be informed in due course about the outcome of the application.
Accordingly, the listing of MICC"s linked units on the JSE Limited and the
Namibian Stock Exchange will no longer be terminated on Friday, 5 May 2006 but
will continue to be suspended until further notice.
Linked unitholders of MICC are advised to exercise caution when dealing in the
company"s linked units until a further announcement is made.
Johannesburg
4 May 2006
Corporate advisor and Sponsor to Vukile:
Bridge Capital Services (Pty) Limited
Sponsor to MICC:
Bridge Capital Services (Pty) Limited
Namibian sponsor to MICC:
Irwin, Jacobs, Greene & Associates (Pty) Limited, Member of the NSX
Legal advisors:
Brink Cohen Le Roux Inc
Date: 04/05/2006 03:23:03 PM Produced by the JSE SENS Department
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