ACP
ACP
Acucap - General Issue Of Linked Units For Cash
ACUCAP PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/021725/06)
Share code: ACP
ISIN: ZAE000037651
("Acucap" or "the Company")
GENERAL ISSUE OF LINKED UNITS FOR CASH
1. Introduction.
Linked unitholders are advised that Acucap has issued a total of 5 561
600 linked units for cash, in terms of the general authority to issue
shares for cash granted by Acucap linked unitholders at the annual
general meeting held on Wednesday, 23 August 2006 ("the cash issue").
The cash issue was undertaken alongside the vendor placing of
13,255,606 Acucap linked units issued to fund the acquisition of a 33%
share in Atlas Properties Limited ("the vendor placing"). In view of
the strong support that the vendor placing attracted, the Board of
Acucap approved the simultaneous cash issue to raise funds in advance
of the company"s forthcoming capital expenditure programme.
2. Consideration and number of new Acucap linked units issued in terms of
the cash issue
In total, 5 561 600 linked units were issued at a price of R25.00 per
linked unit, inclusive of an interest distribution of 32 cents per
linked unit. The linked units were issued at a discount of 43 cents
(1.69%) over the 30 day volume weighted average price prior to 27
November 2006, being the date the Board approved the issue.
A total cash amount of R139 040 000 has been raised in terms of the
cash issue and the new Acucap linked units issued in terms of the cash
issue rank pari passu with the existing issued linked units in issue.
3. Financial effects of the cash issue
The financial effects of the cash issue on Acucap"s earnings per
linked unit, headline earnings per linked unit and net asset value per
linked unit have not been disclosed as the effects are not material.
Cape Town
30 November 2006
Investment bank and sponsor
Nedbank Capital
Date: 30/11/2006 03:27:10 PM Produced by the JSE SENS Department
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