GROWTHPOINT PROPERTIES LIMITED - Growthpoint Australia A$150 Million equity raise

Growthpoint Australia A$150 Million equity raise

Growthpoint Properties Limited
REIT status approved
(Incorporated in the Republic of South Africa)
(Registration Number 1987/004988/06)
Share code: GRT ISIN: ZAE000179420
(“Growthpoint”)


GROWTHPOINT PROPERTIES AUSTRALIA A$150 MILLION EQUITY RAISING



Growthpoint’s 66.4% held Australian subsidiary, Growthpoint Properties Australia Limited (“GOZ”), today
announced its undertaking of a A$150 million equity capital raising (“the Equity Raising”), the proceeds
of which will be used for the acquisition of four industrial properties, the reduction in the gearing of
GOZ’s pro forma balance sheet at 30 June 2013 from 46.8% to 43.5% and the settlement of interest rate
swaps to reduce the blended cost of debt for all borrowings to 6.0%.

The Equity Raising will consist of:

    -   A A$50 million placement to existing and new institutional investors (“the Placement”); and
    -   A A$100 million, 1 for 10.15 renounceable rights offer to existing eligible securityholders (“the
        Rights Offer”)

Growthpoint has committed to take up its full entitlement under the Rights Offer of approximately A$66.4
million and will not participate in the Placement. The Equity Raising is underwritten by Merrill Lynch
Equities (Australia) Limited with whom Growthpoint has entered into a sub-underwriting agreement
undertaking to take up the balance of the Rights Offer above that of Growthpoint’s entitlement
(approximately A$33.6 million).

The Equity Raising will be implemented at an offer price of A$2.45 per new GOZ stapled security,
equating to a yield of 7.8% on GOZ’s guided distribution of A$0.19 per stapled security for the financial
year ending 30 June 2014. The offer price represents a 4.2% discount to GOZ’s clean closing price on
29 October 2013 and a 4.7% discount to the clean 5-day volume weighted average price to 29 October
2013.

Johannesburg
30 October 2013



Sponsor to Growthpoint

Investec Bank Limited

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