VIF - Vividend - Fulfilment Of Conditions Precedent On Property Acquisitions

VIF - Vividend - Fulfilment Of Conditions Precedent On Property Acquisitions    
Vividend Income Fund Limited                                                    
Previously known as Business Venture Investments No 1381 (Proprietary) Limited  
Incorporated in the Republic of South Africa                                    
(Registration Number 2010/003232/06)                                            
JSE Alpha Code:  VIF                                                            
ISIN: ZAE000150918                                                              
("Vividend" or "the Company")                                                   
FULFILMENT OF CONDITIONS PRECEDENT ON PROPERTY ACQUISITIONS                     
1.   THE CHURCH STREET (PIETERMARITZBURG) ACQUISITION                           
    Linked unitholders of the Company are referred to the SENS announcement     
issued by the Company on 31 March 2011, wherein linked unitholders were     
    advised that Vividend had entered into an agreement with R & A Admin CC to  
    acquire the property and letting enterprise, commonly known as "Edgars      
    Church Street" ("The Church Street (Pietermaritzburg) Property"), located   
on portions 3 and 4 of Erf 2421 and portions 4, 5 and 6 of Erf 2422         
    Pietermaritzburg, KwaZulu-Natal ("The Church Street (Pietermaritzburg)      
    Acquisition"), for R38 400 000 (thirty eight million four hundred thousand  
    Rand).                                                                      
Linked unitholders are hereby advised that the outstanding condition        
    precedent of The Church Street (Pietermaritzburg) Acquisition has been duly 
    fulfilled. Vividend will acquire ownership and possession of The Church     
    Street (Pietermaritzburg) Property with effect from the date of transfer    
into the name of Vividend.                                                  
2.   THE BEAUFORT WEST ACQUISITION                                              
    Linked unitholders of the Company are referred to the SENS announcement     
    issued by the Company on 31 March 2011 wherein linked unitholders were      
advised that Vividend had entered into an agreement with Beaufort West      
    Shopping Centre (Proprietary) Limited to acquire the property and letting   
    enterprise, commonly known as the Beaufort West Shopping Centre ("the       
    Beaufort West Property"), situated on Erf 7401 Beaufort West in the         
Province of Western Cape ("The Beaufort West Acquisition"), for R40 216 000 
    (forty million two hundred and sixteen thousand Rand).                      
    Linked unitholders are hereby advised that the outstanding conditions       
    precedent of the Beaufort West Acquisition have been duly fulfilled.        
Vividend will acquire ownership and possession of The Beaufort West         
    Property with effect from the date of transfer into the name of Vividend.   
    Linked unitholders are further advised that the Annualised Yield on the     
    Beaufort West Acquisition has been revised upward to 11.34% for the 4       
months ending 31 August 2011 and 11.57% for the 12 months ending 31 August  
    2012 as a result of a downward adjustment of the purchase consideration, to 
    R39 000 000 (thirty nine million Rand), arising from further negotiation    
    with Beaufort West Shopping Centre (Proprietary) Limited                    
3.   THE RYNFIELD ACQUISITION                                                   
    Linked unitholders of the Company are referred to the SENS announcement     
    issued by the company on 23 February 2011 wherein linked unitholders were   
    advised that Vividend had entered into an agreement with Founders Seven     
(Proprietary) Limited to acquire the property and letting enterprise,       
    commonly known as the Rynfield Shopping Centre" ("the Rynfield Property"),  
    situated at the junction of Pretoria Street and Rickard Street, Benoni,     
    Gauteng ("the Rynfield Acquisition"), for R31 500 000 (thirty one million   
five hundred thousand Rand).                                                
    Linked unitholders are hereby advised that the outstanding conditions       
    precedent of the Rynfield Acquisition have been duly fulfilled. Vividend    
    will acquire ownership and possession of the Rynfield Property with effect  
from the date of transfer into the name of Vividend.                        
Cape Town                                                                       
21 April 2011                                                                   
Sponsor                                                                         
PSG Capital (Pty) Limited                                                       
Date: 21/04/2011 07:59:01 Supplied by www.sharenet.co.za                     
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