ACUCAP PROPERTIES LIMITED - Update on the Follow-On Offer - ACP/SYC

Update on the Follow-On Offer - ACP/SYC

Acucap Properties Limited                            Sycom Property Fund
Incorporated in the Republic of South Africa         A Collective Investment Scheme in Property
Registration number 2001/021725/06                   registered in terms of the Collective
Share code: ACP                                      Investment Schemes Control Act, No. 45 of
ISIN: ZAE0000188660                                  2002 and managed by Sycom Property Fund
Approved as a REIT by the JSE                        Managers Limited (“SPFM”)
(“Acucap”)                                           Registration number 1986/002756/06
                                                     Share code: SYC ISIN: ZAE000019303
                                                     Approved as a REIT by the JSE
                                                     (“Sycom”)

UPDATE ON THE FOLLOW-ON OFFER

Acucap shareholders and Sycom unitholders (collectively “Security Holders”) are referred to the
announcements dated 12 June 2014 and 20 June 2014 in terms of which Acucap announced that it
had made a subsequent offer (“the Follow-On Offer”) to acquire all remaining Sycom units that it did not
already own.

Security Holders are hereby advised that the Follow-On Offer will close at 12h00 on Friday,
26 September 2014.

Ordinary shares in Acucap will therefore be issued as consideration for the Follow-On Offer on the
dates set out below:

 Sycom unitholders that accept the Follow-On         Payment date
 Offer on/before 12h00 on:

 Friday, 12 September 2014                           Monday, 15 September 2014

 Friday, 19 September 2014                           Monday, 22 September 2014

 Friday, 26 September 2014                           Monday, 29 September 2014



Cape Town
12 September 2014


Corporate Advisor and Sponsor
to Acucap and Sycom

Questco (Pty) Ltd

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