PUTPROP LIMITED - Notification in terms of section 45(5) of the Companies Act

Notification in terms of section 45(5) of the Companies Act

Putprop Limited
Incorporated in the Republic of South Africa
(Registration number 1988/001085/06)
Share code: PPR ISIN: ZAE000072310
(“Putprop” or “the Company”)


NOTIFICATION IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT



In accordance with the section 45(5) of the Companies Act 2008 (Act 71 of 2008), as amended,
and pursuant to the special resolution passed at the annual general meeting of the Company held
on 3 November 2014, authorising the Company to provide direct or indirect financial assistance to
related or inter-related parties, shareholders are advised that the board of directors of Putprop
(“the Board”) has resolved in terms of section 45(2) of the Act to authorise Putprop to provide
financial assistance to Neotrend Khala-Cose Developers Proprietary Limited (“Neotrend”), a
subsidiary company of Putprop, which financial assistance exceeds one-tenth of one percent of
the Company’s net worth.

Putprop has granted financial assistance to Neotrend by binding itself to and in favour of
Nedbank Limited as surety in solidum and as co-principal debtor, jointly and severally, with
Neotrend, for the due and punctual performance by Neotrend in respect of its obligations to
Nedbank Limited, for the development of the property known as Value Mart, Secunda from time
to time.

In accordance with section 45 of the Act, the Board is satisfied and acknowledges that:

-   immediately after providing such financial assistance, Putprop would satisfy the solvency
    and liquidity test as provided for in section 4 of the Act, and

-   the terms under which such financial assistance is to be given are fair and reasonable to
    Putprop.


Johannesburg
12 December 2014

Sponsor
Merchantec Capital

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