EMIRA PROPERTY FUND LIMITED - EMII - Notification of an Update to the DMTN Programme and Supplements to Various Applicable Pricing Supplements

EMII - Notification of an Update to the DMTN Programme and Supplements to Various Applicable Pricing Supplements

Emira Property Fund Limited
(Incorporated in the Republic of South Africa)
(Approved as a REIT by the JSE)
(Registration number 2014/130842/06)
Company code: EMII
Bond Code: EPF008          ISIN: ZAG000139361
Bond Code: EPF010          ISIN: ZAG000140369
Bond Code: EPF011          ISIN: ZAG000144502
Bond Code: EPF012          ISIN: ZAG000148024
Bond Code: EPF014          ISIN: ZAG000151572
Bond Code: EPF015          ISIN: ZAG000151804
Bond Code: EPFC37          ISIN: ZAG000149949
Bond Code: EPFC39          ISIN: ZAG000153909
Bond Code: EPFC40          ISIN: ZAG000154535
Bond Code: EPFC41          ISIN: ZAG000155052
(“Emira”)


NOTIFICATION OF AN UPDATE TO THE ZAR 5 000 000 000.00 DOMESTIC MEDIUM TERM NOTE
PROGRAMME AND SUPPLEMENTS TO VARIOUS APPLICABLE PRICING SUPPLEMENTS

Emira has received approval from the JSE and noteholders on its amended ZAR 5 000 000 000.00
Domestic Medium Term Note Programme (the “Programme”) as well as on the supplements to the
following applicable pricing supplements:
     (a) the applicable pricing supplement dated 8 September 2016 relating to the issue of
         R240,000,000 Senior Unsecured Floating Rate Listed Notes with Stock Code EPF008;
     (b) the applicable pricing supplement dated 3 September 2016 relating to the issue of
         R100,000,000 Senior Unsecured Floating Rate Listed Notes with Stock Code EPF010;
     (c) the applicable pricing supplement dated 6 June 2017 relating to the issue of R200,000,000
         Senior Unsecured Floating Rate Listed Notes with Stock Code EPF011;
     (d) the applicable pricing supplement dated 2 November 2017 relating to the issue of
         R149,000,000 Senior Unsecured Floating Rate Listed Notes with Stock Code EPF012;
     (e) the applicable pricing supplement dated 24 May 2018 relating to the issue of R400,000,000
         Senior Unsecured Floating Rate Listed Notes with Stock Code EPF014;
     (f) the applicable pricing supplement dated 29 May 2018 relating to the issue of R127,000,000
         Senior Unsecured Floating Rate Listed Notes with Stock Code EPF015;
     (g) the applicable pricing supplement dated 28 February 2018 relating to the issue of R90,000,000
         Senior Unsecured Floating Rate Listed Notes with Stock Code EPFC37;
     (h) the applicable pricing supplement dated 3 September 2018 relating to the issue of
         R194,000,000 Senior Unsecured Floating Rate Listed Notes with Stock Code EPFC39;
     (i) the applicable pricing supplement dated 1 October 2018 relating to the issue of R75,000,000
         Senior Unsecured Floating Rate Listed Notes with Stock Code EPFC40; and
     (j) the applicable pricing supplement dated 1 November 2018 relating to the issue of
         R125,000,000 Senior Unsecured Floating Rate Listed Notes with Stock Code EPFC41.

A summary of the changes effected is provided below:
    1) In respect of the amended Programme, Condition 9.5.10.9 was deleted in its entirety and
       replaced with the following:
       9.5.10.9 Property Portfolio Value means the aggregate of (a) the Open Market Value of
                Investment Property; (b) the value of the equity accounted property investments
                of the Emira Property Fund Group in associates and joint ventures; (c) the market
                value of listed securities owned by the Emira Property Fund Group in companies,
                the nature of business of which is property investment; and (d) the market value
                of loans receivable, in each case, determined with reference to the interim and
                audited financial statements, and where the aggregate of (i) the value of the equity
                accounted property investments by the Emira Property Fund Group in associates
                and joint ventures and (ii) the market value of loans receivable is limited to 20%
                (twenty percent) of the total assets of the Emira Property Fund Group;

    2)   In respect of the notes held under Stock Codes EPF008, EPF010, EPF011, EPF012, EPF014,
         EPF015, EPFC37, EPFC39, EPFC40 and EPFC41 respectively (“Affected Notes”), additional
         Redemption events were included in the applicable pricing supplements for the Affected
         Notes, which Redemption events relate to Condition 9.6 (Redemption in the event of a change
         of control) and Condition 9.7 (Redemption in the event of a failure to maintain JSE listing or
         credit rating).

The updated Programme and supplements to the applicable pricing supplements as detailed in
paragraphs (a) to (j) above are available for inspection at the registered office of Emira and have been
made available for inspection on its website at https://emira.co.za/portfolio-item/dmtn/.

The updated Programme and supplements to the applicable pricing supplements as detailed in
paragraphs (a) to (j) above will also be available for inspection on the JSE’s website at www.jse.co.za.


29 March 2019

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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