REDEFINE PROPERTIES LIMITED - Acquisition of Fountainhead units and withdrawal or cautionary

Acquisition of Fountainhead units and withdrawal or cautionary

REDEFINE PROPERTIES LIMITED
(Registration No. 1999/018591/06)
Share Code: RDF ISIN Code: ZAE000143178
(“Redefine”)

ACQUISITION OF FOUNTAINHEAD UNITS AND WITHDRAWAL OF CAUTIONARY

INTRODUCTION

Redefine unitholders are referred to the previous announcements in relation to Redefine’s acquisition of
Fountainhead Property Trust (“Fountainhead”) units (the “acquisition”).

TERMS OF THE ACQUISITION

Redefine has acquired 452 442 210 Fountainhead units, representing 38.9% of Fountainhead’s units in issue.
The Fountainhead units have been acquired from Fountainhead unitholders for an aggregate offer
consideration of R4.239 billion consisting of Hyprop Investments Limited linked units, cash and Redefine
linked units.

Fountainhead is a property unit trust established in 1983, governed by the Collective Investment Schemes
Control Act, 2002 and listed on the Johannesburg Securities Exchange.

As announced previously Redefine resolved that if its proposal to acquire the assets of Fountainhead was not
successful, it would seek to obtain a meaningful stake in Fountainhead in order to ensure a further alignment
of interests between Redefine and the Fountainhead unitholders. Given Redefine’s withdrawal of its offer to
acquire the Fountainhead assets it has resolved to proceed to acquire such a stake in Fountainhead.

FINANCIAL EFFECTS

The impact of the acquisition on Redefine’s net asset value, net tangible asset value, distribution per unit and
earnings and diluted earnings per linked unit is not significant (less than 3%) and therefore has not been
disclosed.

WITHDRAWAL OF CAUTIONARY

Following the publication of the financial effects of the acquisition unitholders are no longer required to
exercise caution when dealing in their units in the company.

Johannesburg
15 March 2013


Corporate advisor and sponsor

Java Capital

Legal advisor

Cliffe Dekker Hofmeyr

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