FAIRVEST PROPERTY HOLDINGS LIMITED - Provision Of Financial Assistance

Provision Of Financial Assistance

Fairvest Property Holdings Limited
Incorporated in the Republic of South Africa
(Registration Number: 1998/005011/06)
Share code: FVT
ISIN: ZAE000203808
(Approved as a REIT by the JSE)
(“Fairvest” or “the Company”)

PROVISION OF FINANCIAL ASSISTANCE

Fairvest shareholders are referred to Special Resolution Number 3,
relating to the provision of direct or indirect financial assistance in
terms of section 45 of the Companies Act, No 71 of 2008 (“the Companies
Act”) to related or inter-related companies, which was approved at the
annual general meeting of Fairvest on 3 November 2015.

Fairvest shareholders are notified in terms of section 45(5)(a) of the
Companies Act, that on 29 July 2016 the board of directors of the
Company (“the Board”) approved the provision of financial assistance
(“the Board Resolution”), pursuant to the above shareholder approval,
to the following newly-incorporated subsidiary of Fairvest:

  -   Urban Growth Property Proprietary Limited (“UGP”)

        o   Fairvest has granted financial assistance by way of a loan
            to UGP in the amount of R24 000 000 in order to enable UGP
            to purchase and redevelop the Macassar Shopping Centre,
            Western Cape; and
        o   Fairvest has granted further financial assistance by
            providing a guarantee of R35 600 000 on behalf of UGP in
            respect of bank loans raised.

The financial assistance provided, as detailed above, is greater than
one-tenth of 1% of Fairvest’s net worth as at the date of the Board
Resolution.

The Board further confirms that immediately after providing the above
financial assistance, the Company will continue to satisfy the solvency
and liquidity test as contemplated in section 4 of the Companies Act.
Furthermore, the Board confirms that the terms and conditions of the
financial assistance are fair and reasonable to the Company and that
there has been due compliance with the Company’s memorandum of
incorporation.


10 August 2016
Cape Town

Sponsor: PSG Capital Proprietary Limited

Date: 10/08/2016 04:45:00 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.