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REDEFINE PROPERTIES LIMITED
(Registration No. 1999/018591/06)
Share Code: RDF ISIN Code: ZAE000143178
Bond Code: RDFB01 ISIN: ZAG000094228
Bond Code: RDFC04 ISIN: ZAG000095944
('Redefine')
PROPOSAL BY REDEFINE TO ACQUIRE THE PROPERTY PORTFOLIO OF
FOUNTAINHEAD PROPERTY TRUST ('FOUNTAINHEAD')
Redefine and Fountainhead unitholders are referred to the previous announcements released on SENS in relation to
Redefine's intention to make an offer to acquire the property portfolio of Fountainhead and are advised that Redefine
has delivered a formal proposal to the board of directors of Fountainhead Property Trust Management Limited
('Fountainhead Manco') in this regard.
In terms of the proposal Redefine will acquire all of Fountainhead's properties other than Orion Place, Gail Industrial
Park and Precision House (the 'Retained Properties') for a purchase consideration that will result in Fountainhead
unitholders receiving 3 Hyprop units and 62.5 Redefine units for every 100 Fountainhead units owned by them.
The Retained Properties (which are valued at approximately R10 million) will continue to be held by Fountainhead,
free of any gearing, to seed a new portfolio as part of a broader Black Economic Empowerment strategy consistent
with the objectives of the Property Charter.
The proposal remains conditional on the conclusion of formal agreements, regulatory approvals and the requisite
approval of Redefine and Fountainhead unitholders. Redefine has advised the Fountainhead Manco board that, in its
view, it is necessary that guidance be provided to Fountainhead unitholders on the budgeted distributions for the 2013
financial year to enable the investors to appraise the proposal on a fully informed basis.
The letter detailing the full terms of the proposal is available on Redefine's web-site www.Redefine.co.za and a
detailed announcement will be made once formal agreements are concluded.
1 October 2012
Corporate advisor, legal advisor and sponsor to Redefine
Java Capital
Date: 01/10/2012 05:08:00 Supplied by www.sharenet.co.za
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