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REDEFINE INCOME FUND LIMITED - ODD-LOT OFFER - OFFER PRICES AND SALIENT DATES AND TIMES ANNOUNCEMENT Redefine Income Fund Limited (Registration No. 1999/018591/06) Share code: RDF ISIN code: ZAE000023503 ("Redefine" or "the company") ODD-LOT OFFER - OFFER PRICES AND SALIENT DATES AND TIMES ANNOUNCEMENT Introduction Unitholders are referred to the announcement on 17 August 2004 in which it was announced that the board of directors of Redefine has resolved to implement an odd-lot offer ("the odd-lot offer") subject to the terms and conditions in that announcement. Offer price The offer prices in respect of the odd-lot offer comprise: - the purchase offer price of 285.5 cents, being the price at which the linked units will be purchased by a Redefine linked unitholder. The five day traded volume weighted average price of a Redefine linked unit immediately prior to today was utilised to calculate the purchase offer price; and -the sale offer price of 314.0 cents, being the price at which the linked units will be sold by a Redefine linked unitholder. A 10% premium to the five day traded volume weighted average price of a Redefine linked unit immediately prior to today was utilised to calculate the sale offer price. Salient dates and times The circular to linked unitholders containing, inter alia, full details of the odd-lot offer, notices of general meetings, forms of proxy, forms of election and forms of surrender, was posted to linked unitholders today. The salient dates and times with respect to the odd-lot offer are as follows: 2004
Posting of circular on Thursday, 16 September Election period for the odd-lot offer opens on Thursday, 16 September Offer prices finalised and announced on SENS at commencement of business on Thursday, 16 September Offer prices published in the press on Friday, 17 September Forms of proxy for the shareholder general meeting to be received by the transfer secretaries by 11:00 on Thursday, 7 October Forms of proxy for the debentureholder general meeting to be received by the transfer secretaries by 11:30 on Thursday, 7 October Shareholder general meeting to be held at 11:00 on Monday, 11 October Debentureholder general meeting to be held at 11:30 on Monday, 11 October Results of general meetings and finalisation announcement released on SENS on Monday, 11 October Results of general meetings and finalisation announcement published in the press on Tuesday, 12 October Last day to trade in Redefine linked units and be eligible to participate in the odd-lot offer Friday, 22 October Linked units trade "ex" the odd-lot offer on Monday, 25 October Record date to determine those linked unitholders entitled to participate in the odd-lot offer, at the close of business on Friday, 29 October Election period for the odd-lot offer closes at 12:00 on Friday, 29 October Forms of election and surrender for the odd-lot offer (together with relevant documents of title/cheque/ banker"s draft, as applicable) in respect of certificated linked unitholders to be received by the transfer secretaries by 12:00 on Friday, 29 October New linked unit certificates and cheques in respect of certificated linked unitholders posted against surrender of existing documents of title from Monday, 1 November Dematerialised linked unitholders will have their safe custody accounts held at their CSDP or broker updated with their new linked unitholding and debited/credited with the cash amount, as the case may be, in respect of the odd-lot offer on Monday, 1 November Implementation of the odd-lot offer takes effect at the commencement of business on Monday, 1 November Results of the odd-lot offer released on SENS on Monday, 1 November Results of the odd-lot offer published in the press on Tuesday, 2 November Notes: 1. The abovementioned dates and times are subject to change. Any such change will be released on SENS and published in the press. 2. Dematerialised linked unitholders are required to notify their duly appointed CSDP or broker of their acceptance of the odd-lot offer in the manner and time stipulated in the agreement governing the relationship between the linked unitholder and the CSDP or broker. 3. Linked unitholders may not dematerialise or rematerialise their linked units between Monday, 25 October 2004 and Friday, 29 October 2004, both days inclusive. Rosebank 16 September 2004 Legal and corporate advisor Java Capital Sponsor Java Capital Date: 16/09/2004 08:19:50 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department
