SYNERGY INCOME FUND LIMITED - TRP waiver proceedings

TRP waiver proceedings

SYNERGY INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/032604/06)
JSE share code: SGA     ISIN: ZAE000202883
JSE share code: SGB     ISIN: ZAE000202891
(Granted REIT status with the JSE)
(“Synergy” or “the company”)


TRP WAIVER PROCEEDINGS


Shareholders are referred to the circular dated 26 September 2016 (the “circular”), relating to the transaction which will, once
implemented, effectively reposition Synergy as a specialist high yielding, high growth fund (the “transaction”), as well as the
announcement released on SENS on Tuesday, 25 October 2016 advising shareholders that all resolutions required to be passed in
order to approve the transaction were passed by the requisite majority of shareholders at the general meeting held on
Tuesday, 25 October 2016, including resolutions of independent A and B ordinary shareholders waiving a mandatory offer
triggered by the transaction in terms of section 123 of the Companies Act, 71 of 2012 (the “Companies Act”) (the “waiver
resolution”).

Unless otherwise defined, words defined in the circular bear the same meaning in this announcement.

Having considered Synergy’s application for exemption, the TRP has made a ruling that Arrowhead Properties Limited be
exempted from the obligation to make a mandatory offer (the “ruling”), as required in terms of the Companies Act. The reasons
for the ruling are available to any shareholder of the company upon receipt by the TRP of a request therefor. Any such request
must be made in writing and addressed to “the Executive Director, Takeover Regulation Panel” at any of the addresses indicated
below.

In addition, any shareholder may request the Takeover Special Committee to review the ruling within five business days of this
announcement (i.e. until 17h00 on Thursday, 3 November 2016). Any such application must be made in writing and addressed to
“the Executive Director, Takeover Regulation Panel” at any of the following addresses:

If delivered by hand or courier:            If posted:                                   If faxed:
The Executive Director                      The Executive Director                       The Executive Director
Takeover Regulation Panel                   Takeover Regulation Panel                    Takeover Regulation Panel
1st Floor Block 2                           PO Box 91833                                 +27 86 541 2238
Freestone Park                              Auckland Park
135 Patricia Road                           2006
Atholl
2196

After the expiry of the aforementioned five business day period, and providing that no shareholder requests a review of the ruling,
the TRP waiver proceedings shall be regarded as completed.

27 October 2016


Corporate advisor and sponsor  
Java Capital


Attorneys and Competition law advisors
Cliffe Dekker Hofmeyr
Date: 27/10/2016 04:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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