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RDF - Redefine - Firm intention to make an offer to unitholders of Hyprop Investments Limited Redefine Properties Limited (formerly Redefine Income Fund Limited) (Registration No. 1999/018591/06) Share Code: RDF & ISIN Code: ZAE000143178 ("Redefine") FIRM INTENTION TO MAKE AN OFFER TO UNITHOLDERS OF HYPROP INVESTMENTS LIMITED ("HYPROP") INTRODUCTION Redefine unitholders are referred to the previous announcements in relation to: - the proposed acquisition by Redefine (which currently holds 55 323 970 Hyprop units)of a further 19 686 558 Hyprop units from Coronation Asset Management (Pty) Ltd at a price of R50 per Hyprop unit (the "acquisition"); and - the mandatory offer (the "mandatory offer") to Hyprop unitholders that will be triggered as a result of the increase in Redefine`s interest in Hyprop from 33.3% to 45.2% pursuant to the implementation of the acquisition, (collectively, the "transactions") . As announced on 28 July 2010 the transactions remain conditional on Redefine unitholder approval. In this regard a circular in relation to the transactions has been dispatched to Redefine unitholders convening a general meeting of unitholders for Thursday, 12 August 2010 to consider and, if deemed fit, approve the implementation of the transactions ("Redefine unitholder approval"). Although the mandatory offer is only triggered on the implementation of the acquisition Redefine has elected to anticipate its obligations under the SRP Code by making an offer (the "offer") to Hyprop unitholders that is conditional upon Redefine unitholder approval and has addressed a letter to the board of Hyprop to this effect. THE OFFER Redefine will make an offer to all Hyprop unitholders other than Redefine to acquire their units for a cash consideration of R50 per Hyprop unit (the "offer consideration"). As set out above, the offer is conditional on Redefine unitholder approval. The salient dates of the offer are as follows: 2010
Opening date of the offer (09:00)/ Offer circular Thursday, 5 August posted to Hyprop unitholders
General Meeting of Redefine linked unitholders Thursday, 12 August Announcement on SENS that Redefine unitholder Thursday, 12 August approval has been obtained and that the offer is unconditional Last day to trade to participate in the offer Friday, 20 August
Record date/closing date of the offer (12:00) Friday, 27 August Results of offer to be announced on SENS Monday, 30 August
Results of offer to be announced in the press Tuesday, 31 August CSDP or broker accounts of Hyprop dematerialised Paid on each Monday unitholders to be updated and credited with offer as from 16 August consideration within 5 business days of receipt of 2010 to 30 August acceptance by the transfer secretaries 2010
Cheques to be posted to Hyprop unitholders who have Paid on each Monday accepted the offer and submitted their documents of as from 16 August title on or before 12:00 on the closing date within, 2010 to 30 August 5 business days of receipt of acceptance by the 2010 transfer secretaries Notes: - The above dates and times are subject to change. Any changes will be released on SENS and published in the press. - Hyprop unitholders may not dematerialise or rematerialise their combined units between the business day after the last day to trade and the record date, both days inclusive. - Dematerialised unitholders are required to notify their CSDP or broker of the acceptance of the offer by the cut-off time stipulated by their CSDP or broker in terms of their agreement with the CSDP or broker 4 August 2010 Corporate advisor, legal advisor and sponsor to Redefine Java Capital (Proprietary) Limited Date: 04/08/2010 16:51:01 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.
