VUNANI PROPERTY INVESTMENT FUND LTD - Proposed Rights offer

Proposed Rights offer

VUNANI PROPERTY INVESTMENT FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/019302/06)
JSE code: VPF
ISIN: ZAE000157459
(“the company”)

PROPOSED RIGHTS OFFER

Unitholders are referred to the announcement, dated 12 April 2013,
which mentioned that the company would be undertaking a rights
offer to raise capital to, inter alia, fund the acquisition of
properties in Greenstone Hill and settle debt incurred in the
acquisition of properties. Accordingly unitholders are advised
that a notice of a general meeting to be held on 30 May 2013 has
been posted to them today to:
•    obtain their authority to place a maximum of 70 million new
     units in the company’s capital, under the control of the
     directors, in terms of clause 8.2.3 of the company’s
     memorandum of incorporation, in order to raise up to R760
     million to facilitate the proposed rights offer and/or other
     potential unit issues to settle property acquisitions only;
     and
•    authorise the directors in terms of section 41(3) of the
     Companies Act No 71 of 2008, to issue new units that exceed
     30% of the existing voting power of the entire issued unit
     capital of the company for purposes of the raising of
     capital.


Sandton
2 May 2013

Investment Bank
Investec Bank Limited

Corporate Adviser and Joint Sponsor
Vunani Corporate Finance

Independent Lead Sponsor
Grindrod Bank Limited

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