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GRT - Growthpoint Properties - Update On Proposed Acquisition Of A Controlling Interest In Orchard Industrial Property Fund ("OIF") Growthpoint Properties Limited (Incorporated in the Republic of South Africa) (Registration number 1987/004988/06) Share code: GRT ISIN ZAE000037669 ("Growthpoint") UPDATE ON PROPOSED ACQUISITION OF A CONTROLLING INTEREST IN ORCHARD INDUSTRIAL PROPERTY FUND ("OIF") 1 INTRODUCTION Growthpoint linked unitholders are referred to the announcement released on the Securities Exchange News Service of the JSE Limited on 18 May 2009 relating to the proposed acquisition by Growthpoint of a controlling interest in OIF ("Proposed Acquisiton"). 2 LODGEMENT OF MEETING BOOKLET On 25 June 2009, the directors of Orchard Property Limited, the current responsible entity of OIF, and the directors of Orchard Management Limited the proposed new responsible entity, lodged with the Australian Securities and Investments Commission the Meeting Booklet comprising an Explanatory Memorandum, Notice of Meeting and Prospectus relating to the Proposed Acquisition. Deloitte Corporate Finance (Australia), who was appointed as the Independent Expert to OIF has evaluated the Proposed Acquisition and concluded it is in the Best Interests of OIF Unitholders. The OIF directors have unanimously recommended that Unitholders vote in favour of the Proposed Acquisition and intend to vote their unitholdings in OIF in favour of all the resolutions to be proposed at the unitholder meeting to be held at the end of July. 3 SALIENT DATES The salient dates relating to the Proposed Acquisition are detailed below: General dates Deadline for lodgement of Proxy Forms for Tuesday 28 July 2009 the Unitholder Meeting Unitholder Meeting Thursday 30 July 2009 Implementation Date Monday 3 August 2009 Rights Issue Offer dates Ex-date for Rights Tuesday 11 August 2009 Rights Issue Record Date Monday 17 August 2009 Despatch of Rights Issue Offer Document Wednesday 19 August 2009 Allotment of new Stapled Securities Early to mid September 2009 For further information on the Proposed Acquistion Growthpoint untiholders are referred to the OIF website www.orchardfunds.com where the Meeting Booklet is available for inspection electronically. 25 June 2009 Financial adviser and sponsor to Growthpoint Investec Corporate Finance and Investec Bank Australia Limited Legal adviser to Growthpoint in South Africa Glyn Marais Legal adviser to Growthpoint in Australia Blake Dawson Date: 25/06/2009 11:07:03 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.
