OASIS CRESCENT PROPERTY FUND - Implementation Of Acquisition And Dealing In Oasis Units

Implementation Of Acquisition And Dealing In Oasis Units

Oasis Crescent Property Fund
A property fund created under the Oasis Crescent Property Trust
Scheme registered in terms of the Collective Investment Schemes
Control Act (Act 45 of 2002) having REIT status with the JSE
Share code: OAS
ISIN: ZAE000074332
(“Oasis” or “the Fund”)

IMPLEMENTATION OF ACQUISITION AND DEALING IN OASIS UNITS

1.   IMPLEMENTATION OF ACQUISITION

1.1.   Unitholders are referred to the Fund’s announcement dated
       29 September 2017 (“Acquisition Announcement”), advising that
       the Fund had entered into a sale of shares agreement with Oasis
       Crescent Property Company Proprietary Limited (“OCPC”) and Eden
       Court Oasis Property Joint Venture Proprietary Limited
       (“ECOP”), in terms of which the Fund will purchase the entire
       issued share capital of ECOP (“Sale Shares”) from OCPC
       (“Acquisition”).

1.2.   The Fund is pleased to announce that all conditions precedent
       to the Acquisition were previously fulfilled.

1.3.   As indicated in the Acquisition Announcement, the aggregate
       purchase consideration for the Sale Shares amounts to
       R57 000 000, of which R20 000 000 is to be settled through the
       issue of Oasis units to OCPC at a price per unit calculated on
       the basis set out in the Acquisition Announcement. In this
       regard, it is confirmed that on Friday, 15 December 2017 the
       Fund issued a total of 1 027 349 new units to OCPC at an issue
       price of 1 946.75723 cents per unit, in settlement of the
       remaining balance of the purchase consideration.

1.4.   As indicated in the Acquisition Announcement, ownership of the
       Sale Shares passed to the Fund on 1 October 2017, from which
       date the Fund has been entitled to every benefit arising from
       the Sale Shares and from which date the Sale Shares were held
       by the Fund at its risk.

2.   DEALING IN OASIS UNITS

     As indicated in the Acquisition Announcement, OCPC is a related
     party to the Fund in terms of the JSE Listings Requirements. As
     OCPC is an associate of certain directors of the Fund’s manager,
     Oasis Crescent Property Fund Managers Limited, the following
     information is disclosed in compliance with paragraphs 3.63 to
     3.74 of the JSE Listings Requirements:

NAME OF DIRECTOR             N Ebrahim

COMPANY OF WHICH I AM A      Oasis Crescent Property Fund Managers
DIRECTOR                     Limited

STATUS:EXECUTIVE/NON-        Executive
EXECUTIVE

TYPE OF SECURITIES           Units

CLASS OF SECURITIES          Ordinary

DATE OF TRANSACTION          15 December 2017

CENTS PER UNIT               1 946.75723

NUMBER OF SECURITIES         1 027 349

TOTAL RAND VALUE OF          R20 000 000
SECURITIES

NAME OF ASSOCIATE            Oasis Crescent Property Company
                             Proprietary Limited (“OCPC”)

RELATIONSHIP WITH DIRECTOR   The director is a director of the
                             associate

NATURE OF TRANSACTION        Acquisition issue of units by the Fund
                             to OCPC, in consideration for the
                             balance of the purchase consideration
                             due to OCPC for the acquisition by the
                             Fund of the Sale Shares in ECOP
                             (Off-market transaction)

NATURE AND EXTENT OF         Indirect, beneficial
INTEREST IN THE TRANSACTION



NAME OF DIRECTOR             M S Ebrahim

COMPANY OF WHICH I AM A      Oasis Crescent Property Fund Managers
DIRECTOR                     Limited

STATUS:EXECUTIVE/NON-        Executive
EXECUTIVE

TYPE OF SECURITIES           Units

CLASS OF SECURITIES          Ordinary

DATE OF TRANSACTION          15 December 2017

CENTS PER UNIT               1 946.75723

NUMBER OF SECURITIES         1 027 349

TOTAL RAND VALUE OF          R20 000 000
SECURITIES

NAME OF ASSOCIATE             Oasis Crescent Property Company
                              Proprietary Limited (“OCPC”)

RELATIONSHIP WITH DIRECTOR    The director is a director of the
                              associate

NATURE OF TRANSACTION         Acquisition issue of units by the Fund
                              to OCPC, in consideration for the
                              balance of the purchase consideration
                              due to OCPC for the acquisition by the
                              Fund of the Sale Shares in ECOP
                              (Off-market transaction)

NATURE AND EXTENT OF          Indirect, beneficial
INTEREST IN THE TRANSACTION

Clearance to deal in these units was obtained in accordance with
paragraph 3.66 of the JSE Listings Requirements, to the extent
required.


15 December 2017
Cape Town

Designated advisor
PSG Capital Proprietary Limited

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