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PMM - Premium Properties Limited - Rights Offer Finalisation Announcement Friday, 21 January 2011 Premium Properties Limited (Incorporated in the Republic of South Africa) (Registration number 1994/003601/06) JSE share code: PMM ISIN: ZAE000009254 ("Premium" or "the Company") Rights Offer Finalisation Announcement 1. Introduction Premium linked unitholders are referred to the announcement released on SENS on Friday, 14 January 2011 wherein Premium announced the raising of R400 million equity capital by way of a partially underwritten renounceable rights offer of 26 666 667 new linked units to qualifying unitholders at a price of 1500 cents per linked unit in the ratio of 20.5 rights for every linked unit held on the record date (the "rights offer"). 2. Conditions precedent The board of directors of Premium is pleased to advise Premium linked unitholders that all of the suspensive conditions pertaining to the rights offer have been fulfilled. Accordingly the rights offer is now unconditional and will be implemented in accordance with the timetable set out in paragraph 3 below. 3. Salient dates and times The salient dates and times in respect of the rights offer are set out below: 2011 Last day to trade in Premium linked units on Friday, 28 January the JSE in order to settle by the record date and thus be recorded as a linked unitholder in order to be entitled to participate in the rights offer on Premium linked units trade ex-rights offer Monday, 31 January entitlement on the JSE from Listing and trading on the JSE of the Monday, 31 January letters of allocation from the commencement of trade on Record date in order to be entitled to Friday, 4 February participate in the rights offer on Rights offer opens at 09:00 and a circular Monday, 7 February including a form of instruction to be mailed to linked unitholders on Letters of allocation credited to an Monday, 7 February electronic account held at the transfer secretaries in respect of holders of certificated Premium linked units on CSDP or broker accounts credited with Monday, 7 February entitlements in respect of holders of dematerialised Premium linked units on Last day to trade in the letters of Friday, 18 February allocation on the JSE in order to settle by close of the rights offer on Listing and trading on the JSE of rights Monday, 21 February offer units commence at 09:00 on Payment to be made and form of instruction Friday, 25 February to be lodged with the transfer secretaries by holders of certificated Premium linked unitholders by 12:00 on Rights offer closes at 12:00 on Friday, 25 February Record date for the letters of allocation on Friday, 25 February Rights offer units issued on Monday, 28 February CSDP or broker accounts of holders of Monday, 28 February dematerialised Premium linked units debited and updated with rights offer units on Results of the rights offer announcement Monday, 28 February released on SENS on Results of the rights offer announcement Tuesday, 1 March published in the national press on Notes: 1. All times indicated shown are South African times. 2. Premium linked units may not be dematerialised/re-materialised between Monday, 31 January 2011 and Friday, 4 February 2011, both days inclusive. 3. CSDPs effect payment in respect of dematerialised unitholders on a delivery-versus-payment method. 4. CIRCULAR The rights offer circular setting out the detailed terms of the rights offer will be posted to linked unitholders on or about Monday, 7 February 2011. Johannesburg 21 January 2011 Investment Bank and Sponsor Nedbank Capital Legal adviser TWB & Partners Reporting accountant Grant Thornton Date: 21/01/2011 10:45:01 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.
