Sharenet Sites 
Sharenet Sites
Results of Sycom rights offer and Acucap's underwriting obligations
ACUCAP PROPERTIES LIMITED
("Acucap)
(Registration number 2001/021725/06)
JSE Share code: ACP
ISIN: ZAE000037651
RESULTS OF SYCOM RIGHTS OFFER AND ACUCAPS UNDERWRITING OBLIGATIONS
Holders of linked units in Acucap are referred to the announcement published on SENS on
28 March 2013 and in the South African press on 2 April 2013, wherein Acucap announced that
it would fully underwrite a renounceable rights offer (Rights Offer) by Sycom Property
Fund (Sycom) in terms of which Sycom was to raise R900 000 002 through the offer of
33 027 523 new participatory interests (Sycom Units) in Sycom (the Rights Offer Units)
to qualifying Sycom unitholders at a subscription price of 2 725 cents (R27.25) per Rights Offer
Unit, at a ratio of entitlement of 13.28519 Rights Offer Units for every 100 Sycom Units held
on the record date for the Rights Offer, being Friday, 26 April 2013 (the Record Date).
It also announced that it had committed to follow its rights in terms of the Rights Offer.
The Rights Offer closed on Friday, 24 May 2013 and was 98.4% subscribed, with excess
applications received for a further 15 096 792 Rights Offer Units. At the Record Date,
Acucap held 48 678 564 Sycom Units (equating to 19.58% of the Sycom Units in issue)
and has subscribed for and been issued 6 467 039 Rights Offer Units.It has also acquired
429 322 additional Rights Offer Units pursuant to its application for an excess allocation
of Rights Offer Units (collectively, the Transaction). The aggregate consideration
payable by Acucap for the Rights Offer Units acquired by it in terms of the Transaction
is R187 925 837.25.
Acucaps interest in Sycom has therefore increased to 19.73%. The financial effects
of the Transaction are not material.
Cape Town
29 May 2013
Corporate adviser and transaction sponsor
QuestCo (Pty) Ltd
Legal advisor
Cliffe Dekker Hofmeyr Inc.
Sponsor
Absa Bank Limited
(acting through its Corporate and Investment Banking Division)
Date: 29/05/2013 03:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
