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RDF/MDN - Redefine/Madison - Results of the Madison scheme meetings Redefine Income Fund Limited Registration No. 1999/018591/06 Share Code: RDF ISIN Code: ZAE000023503 ("Redefine" or "the proposer") Madison Property Fund Managers Holdings Limited Registration No. 2003/021772/06 Madison Property Fund Managers Limited Registration No. 2005/021874/06 Share Code: MDN ISIN: ZAE000080560 ("Madison") RESULTS OF THE MADISON SCHEME MEETINGS Separate scheme meetings (the "scheme meetings") of Madison linked unitholders in their capacity as shareholders of Madison Property Fund Managers Holdings Limited ("Madison Holdings") in respect of the shares in Madison Holdings held by them and in their capacity as creditors of Madison Property Fund Managers Limited ("Madison Limited") in respect of the Madison Limited debentures held by them were held on Monday, 6 April 2009 for purposes of considering and, if deemed fit approving the scheme of arrangement proposed by Redefine between Madison and its linked unitholders (the "scheme") on the terms set out in the scheme circular dated 13 March 2009. Madison linked unitholders are advised that at the scheme meetings the scheme was approved by the requisite majorities of scheme members in terms of sections 311(2)(a) and 311(2)(b) of the Companies Act, 61 of 1973. The Chairman of the scheme meetings is to report back to The South Gauteng High Court (Johannesburg) ("the Court") on Tuesday, 9 June 2009 ("the return date") at 10h00 or so soon thereafter as Counsel may be heard when application will be made for the sanctioning of the scheme. Madison linked unitholders are entitled to attend or be represented by Counsel at the Court on the return date. Copies of the Chairman`s report on the scheme meetings will be available to any Madison linked unitholder on request, free of charge, at Madison`s registered office (2 Arnold Road, Rosebank, 2196) and at the offices of the Chairman c/o Werksmans Incorporated (5th Street, Sandton, Johannesburg, 2196) during normal office hours for at least one week before the return date. In addition to the sanctioning of the scheme by the Court and the registration by CIPRO of the Court Order, the scheme remains conditional upon: - the approval of the Competition Authorities of the merger of Redefine, ApexHi Properties Limited ("ApexHi") and Madison; and - the Court sanction of the seperate schemes of arrangement proposed by Redefine between ApexHi and its "A" linked unitholders, "B" linked unitholders and "C" linked unitholders respectively (other than Redefine) and the registration by CIPRO of such Court Orders. Further announcements regarding the date on which the scheme will be implemented will be released on SENS and published in the press in due course. 6 April 2009 Corporate advisor, legal advisor and sponsor to Redefine and sponsor to Madison Java Capital (Proprietary) Limited Independent advisor to Madison Grant Thornton Corporate Finance Attorneys to the scheme Fluxmans Inc. Independent sponsor to Madison Deloitte & Touche Sponsor Services (Proprietary) Limited Date: 06/04/2009 13:25:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
