VUKILE PROPERTY FUND LIMITED - Results of mandatory and comparable offers to the linked unitholders of Synergy Income Fund Limited

Results of mandatory and comparable offers to the linked unitholders of Synergy Income Fund Limited

VUKILE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/027194/06)
JSE share code: VKE NSX share code: VKN
ISIN: ZAE000056370
(Granted REIT status with the JSE)
(“Vukile”)


RESULTS OF MANDATORY AND COMPARABLE OFFERS TO THE LINKED UNITHOLDERS OF SYNERGY INCOME FUND LIMITED


Vukile linked unitholders and linked unitholders of Synergy Income Fund Limited (“Synergy”) are referred to the announcement
released on SENS on 5 December 2014 wherein Synergy linked unitholders were advised that an offer circular was posted to
Synergy linked unitholders in respect of:

-      a mandatory offer (the “mandatory offer”) by Vukile to acquire all of the Synergy B linked units not already owned by
       Vukile for an offer consideration of 1 Vukile linked unit for every 2.67 Synergy B linked units disposed of in terms of the
       mandatory offer; and

-      a comparable offer (the “comparable offer”) by Vukile to acquire all of the Synergy A linked units for an offer
       consideration of 1 Vukile linked unit for every 1.65 Synergy A linked units disposed of in terms of the comparable offer,

(collectively the “offers”), which offers closed at 12:00 on 6 February 2015.

Vukile and Synergy linked unitholders are informed that:

-      the mandatory offer was accepted in respect of 31 759 077 Synergy B linked units, comprising 29.86% of Synergy B
       linked units; and

-      the comparable offer was accepted in respect of 5 625 611 Synergy A linked units, comprising 11.88% of Synergy A
       linked units in issue.

Accordingly, Vukile now holds 87.62% of Synergy B linked units in issue and 11.88% of Synergy A linked units, comprising
64.29% of the entire issued capital of Synergy. As a result, Synergy is now a listed subsidiary of Vukile.

9 February 2015


JSE sponsor, corporate advisor and legal advisor            NSX sponsor

Java Capital                                                IJG Securities (Pty) Ltd

Date: 09/02/2015 03:38:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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