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Update on scheme implementation timetable
Irongate Group (JSE: IAP)
Comprising Irongate Property Fund I (IPF I, ARSN 162 067 736) and Irongate Property Fund II (IPF II, ARSN 644 081 309), established in Australia
and registered with ASIC as managed investment schemes
Operated by Irongate Funds Management Limited (ACN 071 514 246; AFSL 290 909) (Responsible Entity)
IPF I is registered as a foreign collective investment scheme in terms of the Collective Investment Schemes Control Act No.45 of 2002
ISIN: AU0000046005
(IAP or the Fund)
Update on scheme implementation timetable
As previously announced, Irongate Funds Management Limited (IAP RE) as responsible entity
of Irongate Property Fund I (IPF I) and Irongate Property Fund II (IPF II) (together, IAP) has
today received orders from the Supreme Court of New South Wales that IAP RE would be
justified in implementing the proposal by Charter Hall PGGM Industrial Partnership No.2
(CHPIP) under which it is proposed that CHPIP acquire 100% of the units in IPF I, and Charter
Hall Holdings Pty Limited acquire 100% of the units in IPF II by way of inter-conditional trust
schemes (Proposal).
All conditions precedent to the Proposal, as detailed in the Scheme Implementation Agreement
dated 30 March 2022 (a copy of which was released to the ASX on 30 March 2022) have been
satisfied and the Proposal is now unconditional. The Proposal is expected to be implemented
on 15 July 2022.
Next steps
IAP RE will lodge the executed supplemental deeds and the orders of the Supreme Court of
New South Wales with the Australian Securities and Investments Commission tomorrow, 6 July
2022, at which time the Proposal will become legally effective and IAP securities will cease to
be traded from the close of trading on the ASX and open of trading on the JSE on this day.
Key dates and timetable(1)
Event Expected Date
The date on which the Schemes become Tuesday, 5 July 2022
unconditional, and the finalisation announcement is
released on SENS, including the currency
conversion rate.
Last day for trading in IAP Securities on the JSE Tuesday, 5 July 2022 (Johannesburg time)
and the last day IAP Securityholders can transfer
(1) Capitalised terms in this footnote and in the above timetable included have the meaning given to them in the Scheme
Booklet dated 19 May 2022. Unless otherwise stated, all times referred to in this announcement are times in Sydney,
Australia. No dematerialisation or rematerialisation of IAP Securities and no transfer of IAP Securities between the
Australian Register and South African Register may take place from the commencement of business on the business
day following the last day for trading in IAP Securities on the JSE and ASX (being, Tuesday, 5 July 2022). Any changes
to the above timetable will be announced through the ASX and the JSE and notified on IAP Group’s website
(irongategroup.com.au). Any obligation to do an act by a specified time in an Australian time zone must be done at the
corresponding time in any other jurisdiction.
Event Expected Date
IAP Securities between the Australian Register and
South African Register.
Effective Date Wednesday, 6 July 2022
The date on which the Schemes become Effective
and are binding on IAP Securityholders.
Last day of trading in IAP Securities on the ASX.
IAP Securities suspended from trading from close
of trading on the ASX.
IAP Securities suspended from trading on the JSE Wednesday, 6 July 2022 (Johannesburg time)
from open of trading on the JSE.
Procedure to remove IAP Securities from the
official list of the JSE is initiated by the JSE.
Record Date Friday, 8 July 2022
All IAP Securityholders who hold IAP Securities on
the Record Date will be entitled to receive the
Scheme Consideration.
Implementation Date Friday, 15 July 2022
All Scheme Participants will receive the Scheme
Consideration to which they are entitled on this
date.
Delisting Date Monday, 18 July 2022
Removal of IAP Securities on the official lists of the
ASX and the JSE at commencement of trade
expected to be on this date.
Payment of Scheme Consideration
On 15 July 2022, securityholders on the register at the Record Date of 8 July 2022 will receive
the scheme consideration of A$1.90 per IAP Security (excluding the ordinary distribution for the
period ending 31 March 2022 as announced by IAP RE on 10 May 2022).
As disclosed in the Scheme Booklet dated 19 May 2022, securityholders holding their securities
on the South African Register will receive the Scheme Consideration in ZAR (Rand) equivalent
of 2112.91400 cents per IAP Security based on the ZAR (Rand) / A$ (AUD) relevant rate
quoted by Reuters as at 5:00pm (Sydney time) on the Second Court Date of 5 July 2022 being
0.08992.(2)
Further information
IAP securityholders can obtain further information in relation to the Proposal by visiting IAP’s
website (www.irongategroup.com.au) or calling the IAP securityholder information line on 1300
620 419 (within Australia) or +613 9415 4314 (outside Australia) between 8.30am and 5.00pm
(Sydney time) Monday to Friday, excluding public holidays.
IAP securityholders holding IAP securities on the South African Register should direct their
queries to their broker or CSDP.
Footnote:
(2) This is the offer rate quoted by Reuters as at 5:00pm (Sydney time) on the Second Court Date of 5 July 2022.
5 July 2022
Johannesburg
Sponsor
Investec Bank Limited
Date: 05-07-2022 11:29:00
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