FPT - Fountainhead Property Trust - Results of the rights offer

FPT - Fountainhead Property Trust - Results of the rights offer                 
Fountainhead Property Trust                                                     
JSE code: FPT                                                                   
ISIN: ZAE000097416                                                              
("Fountainhead")                                                                
a portfolio forming part of the Fountainhead Property Trust Scheme ("the        
Scheme"), a collective investment scheme in property established in terms of the
Collective Investment Schemes Control Act, No. 45 of 2002, as amended, and      
managed by                                                                      
Fountainhead Property Trust Management Limited                                  
(Registration number 1983/003324/06)                                            
RESULTS OF THE RIGHTS OFFER                                                     
1. Results of the Rights Offer                                                  
Fountainhead unitholders are referred to the announcements released on the      
Securities Exchange News Service ("SENS") of the JSE Limited ("JSE") on 21      
February 2011 and 4 March 2011 in which Fountainhead announced its R1.0 billion 
rights offer (the "Rights Offer"). In terms of the Rights Offer, 166 666 667 new
Fountainhead units ("Rights Offer Units") were offered at a subscription price  
of 600 cents per Rights Offer Unit.                                             
The Rights Offer closed at 12:00 on Friday, 8 April 2011 and the results thereof
are set out in the table below.                                                 
                                      Number of     % of Rights                 
                                      Rights Offer  Offer Units                 
Units                                     

Rights Offer Units available for       166 666 667   100.0                      
subscription                                                                    
Rights Offer Units subscribed for      161 208 229   96.7                       
Excess Rights Offer Units applied for  29 830 158    17.9                       
Excess Rights Offer Units available    5 458 438     3.3                        
for allocation                                                                  
2. Issue of Rights Offer Units                                                  
Unit certificates will be posted to holders of certificated units who have      
followed their rights, on Monday, 11 April 2011.                                
The Central Securities Depository Participant ("CSDP") or broker accounts of    
holders of dematerialised units or their renouncees, who have followed their    
rights, will be credited with the Rights Offer Units and debited with any       
payments due on Monday, 11 April 2011.                                          
3. Excess applications                                                          
The excess Rights Offer Units applied for will be allocated in a manner viewed  
as equitable in terms of the Listings Requirements of the JSE, taking cognisance
of the number of units held by the unitholder, including those taken up as a    
result of the Rights Offer, and the number of excess Rights Offer Units applied 
for by such unitholder.                                                         
Unit certificates and/or refund cheques will be posted to holders of            
certificated units who have applied for excess Rights Offer Units, on or about  
Wednesday, 13 April 2011.                                                       
The CSDP or broker accounts of holders of dematerialised units who have applied 
for excess Rights Offer Units, will be credited with the excess Rights Offer    
Units and debited with any payments due, on or about Wednesday, 13 April 2011.  
Johannesburg                                                                    
11 April 2011                                                                   
Investment bank and sponsor                                                     
Standard Bank                                                                   
Independent sponsor                                                             
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited                  
Independent reporting accountants                                               
KPMG Inc.                                                                       
Legal adviser                                                                   
Edward Nathan Sonnenbergs Inc.                                                  
Date: 11/04/2011 08:56:21 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
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