ANNUITY PROPERTIES LTD - Successful completion of private placement, fulfillment of conditions precedent and directors dealing in linked uni

Successful completion of private placement, fulfillment of conditions precedent and director’s dealing in linked uni

ANNUITY PROPERTIES LIMITED
(formerly Niqsha Beleggings CC)
(Incorporated in the Republic of South Africa)
(Registration Number 2011/145994/06)
Linked unit code: ANP        ISIN: ZAE000165643
(“Annuity” or “the Company”)



SUCCESSFUL COMPLETION OF THE PRIVATE PLACEMENT, FULFILMENT OF CONDITIONS PRECEDENT AND
DIRECTORS DEALING IN LINKED UNITS ANNOUNCEMENT

A.    PRIVATE PLACEMENT

      Annuity linked unit holders are referred to the circular to linked unit holders
      dated 25 October 2012 regarding the acquisition of various properties for an
      aggregate   purchase   consideration   of    R817.2   million  (the   “Proposed
      Acquisitions”) and the announcement released on the Securities Exchange News
      Service of the JSE Limited (“JSE”) on Friday, 23 November 2012. Annuity is
      hereby pleased to advise linked unit holders of the results of the private
      placement and the private placement issue price as follows:

      Issue price (clean)                               R5.20
      Number of new linked units to be issued           92 683 519
      Total private placement proceeds*                 R482.0 million

      *The private placement was limited to R482.0 million and was oversubscribed.

      Pursuant to the successful completion of the private placement, all conditions
      precedent relating to the acquisition of the Atrium property, the BCX property,
      the Langeberg Mall property and the Riverhorse property have been timeously
      fulfilled and the aforementioned acquisitions are now unconditional.

      Annuity shall issue and list the new linked units in dematerialised form on
      Monday, 10 December 2012, which is the first business day following the last
      day to trade for the September 2012 distribution (being Friday, 7 December
      2012).

B.    DIRECTORS’ DEALING IN LINKED UNITS

      Pursuant to the above, and in compliance with rules 3.63 - 3.74 of the listing
      requirements of the JSE, the information relating to the participation in the
      private placement by directors of Annuity is set out below:


      Name                          :   Panico Theocharides
      Designation                   :   Joint Chief Executive Officer
      Nature of transaction         :   Off-market acquisition of linked units
      Nature of interest            :   Direct, beneficial (50 000 linked units);
                                        Indirect, beneficial (29 000 linked units)
      Date of transaction           :   26 November 2012
      Number of linked units        :   79 000
      Purchase price per linked     :   R5.20
      unit
      Total value of transaction    :   R410 800 
      Clearance to deal obtained    :   Yes



      Name                          :   Derek Greenberg
      Designation                   :   Joint Chief Executive Officer
      Nature of transaction         :   Off-market acquisition of linked units
      Nature of interest            :   Indirect, beneficial
      Date of transaction           :   26 November 2012
      Number of linked units        :   2 057 692
      Purchase price per linked     :   R5.20
      unit
      Total value of transaction    :   R10 699 998.40
      Clearance to deal obtained    :   Yes


      Name                          :   Schalk Strydom
      Designation                   :   Chief Financial Officer
      Nature of transaction         :   Off-market acquisition of linked units
      Nature of interest            :   Indirect, beneficial
      Date of transaction           :   26 November 2012
      Number of linked units        :   10 000
      Purchase price per linked     :   R5.20
      unit
      Total value of transaction    :   R52 000.00
      Clearance to deal obtained    :   Yes


      Name                          :   Daniel Rubenstein
      Designation                   :   Executive Director
      Nature of transaction         :   Off-market acquisition of linked units
      Nature of interest            :   Indirect, beneficial
      Date of transaction           :   26 November 2012
      Number of linked units        :   10 000
      Purchase price per linked     :   R5.20
      unit
      Total value of transaction    :   R52 000.00
      Clearance to deal obtained    :   Yes


llovo
30 November 2012


Lead Investment Bank and                                       Sponsor to Annuity
Transaction Sponsor to         Joint Investment Bank
Annuity                        to Annuity                      Rand Merchant Bank
                                                               (a division of 
Investec Bank Limited          Sasfin Capital                  FirstRand Bank
                                                               Limited)

Independent reporting          Attorneys to Annuity
accountants and auditors
       to Annuity              Glyn Marais Inc
          PKF

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