FAIRVEST PROPERTY HOLDINGS LIMITED - Acquisition Agreement lapsed, renewal of cautionary announcement

Acquisition Agreement lapsed, renewal of cautionary announcement

Fairvest Property Holdings Limited
Incorporated in the Republic of South Africa
(Registration number: 1998/005011/06)
Linked unit code: FVT   ISIN: ZAE000034658
(“Fairvest” or “the Company”)

ACQUISITION AGREEMENT LAPSED, RENEWAL OF CAUTIONARY ANNOUNCEMENT

ACQUISITION AGREEMENT LAPSED

1.   Linked unitholders are referred to the Company’s SENS announcement on
     14 November 2013 (“Transaction Announcement”), in which it advised
     linked unitholders that the Company had entered into an agreement
     (“Acquisition Agreement”) with Old Mutual Life Assurance Company
     (South Africa) Limited (“Old Mutual”) to acquire from Old Mutual a
     portfolio of retail properties and the associated rental enterprise
     (“Acquisition Portfolio”), as detailed in that announcement(“Old
     Mutual Acquisition”).

2.   As indicated in the Transaction Announcement, the Old Mutual
     Acquisition is subject to the fulfilment of various conditions
     precedent, including confirmation by the Company that it has completed
     a due diligence investigation in connection with the Acquisition
     Portfolio to its satisfaction (“Due Diligence CP”).

3.   Certain matters were identified by the Company during the due
     diligence investigation as being potentially material to the Old
     Mutual Acquisition. As a result, the Company has not to date confirmed
     fulfilment of the Due Diligence CP.

4.   Linked unitholders are advised that, whereas the deadline specified in
     the Transaction Announcement for fulfilment of the Due Diligence CP
     has expired without the Due Diligence CP being fulfilled, the
     Acquisition Agreement has lapsed.

5.   The Company currently remains in discussion with Old Mutual regarding
     the possible reinstatement of the Acquisition Agreement upon revised
     terms.

RENEWAL OF CAUTIONARY ANNOUNCEMENT

6.   Linked unitholders are referred to the cautionary announcement
     contained in the Transaction Announcement, as renewed by the Company
     in its subsequent announcement dated 24 December 2013.

7.   The Company’s further discussions with Old Mutual may result in the
     reinstatement of the Acquisition Agreement, the revised terms of which
     may have a material effect on the price of the Company’s securities.
     Accordingly, linked unitholders are advised to continue exercising
     caution when dealing in the Company’s securities, until such time as a
     further announcement is made in respect of the outcome of such further
     discussions.

16 January 2014
Cape Town
Sponsor and Corporate Advisor: PSG Capital

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