ACUCAP PROPERTIES LIMITED - Acucap\Sycom - Successful transfer of Greenacres Shopping Centre and posting of offer documentation

Acucap\Sycom - Successful transfer of Greenacres Shopping Centre and posting of offer documentation

        Acucap Properties Limited                                  Sycom Property Fund
(Incorporated in the Republic of South Africa)     A Collective Investment Scheme in Property ("CISP")
    (Registration number 2001/021725/06)              registered in terms of the Collective Investment
               Share code: ACP                             Schemes Control Act, No. 45 of 2002
             ISIN: ZAE000037651                     and managed by Sycom Property Fund Managers
      (Approved as a REIT by the JSE)                                       Limited
                   (“Acucap”)                        (Registration number 1986/002756/06) (“SPFM”)
                                                                      Share code: SYC
                                                                    ISIN: ZAE000019303
                                                             (Approved as a REIT by the JSE)
                                                                          (“Sycom”)




 JOINT ANNOUNCEMENT: SUCCESSFUL TRANSFER OF GREENACRES SHOPPING
 CENTRE AND POSTING OF OFFER DOCUMENTATION


1.   Greenacres acquisition


 Further to the announcements released by Acucap and Sycom on SENS on 21 October 2013
 wherein it was disclosed that Acucap and Sycom had each acquired an undivided half share in
 Greenacres Shopping Centre in Port Elizabeth (“Greenacres”), the directors of Acucap and
 SPFM are pleased to announce that the transfer of Greenacres was registered today. Plans for
 an expansion and upgrade of Greenacres are well advanced and further details will follow once
 plans are approved.


2.   Posting of offer documentation


Acucap linked unitholders and Sycom unitholders are referred to the announcement released on
SENS on 27 March 2014 pertaining to an offer by Acucap to acquire all Sycom units in issue,
other than those that are already held by Acucap or its wholly-owned subsidiary, SPFM, in
consideration for securities in Acucap (“the Offer”).

The Offer opens for acceptance by Sycom unitholders from today (31 March 2014) and will
remain open until 12:00 on Friday, 16 May 2014.

A circular and Offer document, providing additional information on the Offer, were posted to
Acucap linked unitholders and Sycom unitholders respectively, today, 31 March 2014. The
circular and Offer document are also available for download on the respective websites of
Acucap (www.acucap.co.za) and Sycom (www.sycom.co.za).




Cape Town
31 March 2014


Corporate advisor and Sponsor
Questco (Pty) Ltd

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