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Madison Property Fund Managers Holdings Limited - Results Of The Offers
MADISON PROPERTY FUND MANAGERS HOLDINGS LIMITED
(formerly Madison Property Fund Managers (Pty) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2003/021772/06)
JSE code: MDN & ISIN: ZAE000080560
("Madison")
RESULTS OF THE OFFERS
Java Capital is authorised to announce the results of the public offer and
private placement of Madison linked units undertaken in advance of the listing
by Madison and Opco of Madison linked units on the Financial Real Estate - "Real
Estate Holdings and Development Sub-Sector" of the JSE.
A total of 130 million Madison linked units at 500 cents per linked unit (in
aggregate R650 million) were made available by way of:
- a public offer limited to unitholders in ApexHi, Hyprop and Redefine of 60
million linked units (R300 million);
- a private placement of 70 million linked units (R350 million) of which 20
million linked units (R100 million) were allocated to Clearwater Capital,
Madison"s Black Economic Empowerment partner.
In excess of 2 500 applications were received for 458.53 million Madison linked
units (approximately R2.3 billion):
- the public offer was more than four times oversubscribed, with 2 272
applications received in respect of 242 368 300 linked units (approximately
R1.21 billion);
- the private placement was more than 3 times oversubscribed, with 245
applications received in respect of 216 167 396 linked units (approximately
R1.08 billion). Excluding the 20 million linked units allocated to
Clearwater Capital, the private placement was almost 4 times
oversubscribed.
Applicants under the public offer who subscribed for up to 9 000 linked units
will receive 100% of their application. Applicants under the public offer who
subscribed for more than 9 000 linked units will receive 9 000 linked units and
approximately 20% of the number of linked units applied for in excess of 9 000
(rounded up or down to the nearest hundred).
Applicants under the private placement will be advised of their allocations by
close of business, Tuesday, 6 June 2006.
Refund cheques (subject to funds having cleared) will be posted on or before
Friday, 9 June 2006.
190 000 000 Madison linked units will be listed in the Financial Real Estate -
"Real Estate Holdings and Development Sub-Sector" under the abbreviated name
"Madison" and JSE code "MDN" with effect from the commencement of trade on the
JSE on Wednesday, 7 June 2006.
Rosebank
5 June 2006
Corporate advisor, legal advisor and Sponsor
Java Capital
Date: 05/06/2006 04:52:04 PM Produced by the JSE SENS Department
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