SGA/SGB - Synergy Income Fund Limited - Results of the private placement

SGA/SGB - Synergy Income Fund Limited - Results of the private placement        
SYNERGY INCOME FUND LIMITED                                                     
(formerly Capital Land Retail Fund Limited)                                     
(Incorporated in the Republic of South Africa on 13 November 2007)              
(Registration number 2007/032604/06)                                            
JSE share code for A linked units: SGA       ISIN Code:   ZAE000161550          
JSE share code for B linked units: SGB       ISIN Code:   ZAE000162293          
("Synergy" or "the company")                                                    
LISTING ON THE MAIN BOARD OF THE JSE LIMITED, RESULTS OF THE PRIVATE            
PLACEMENT OF SYNERGY A LINKED UNITS AND CONFIRMATION OF PLACING OF SYNERGY B    
LINKED UNITS                                                                    
Investors are referred to Synergy`s pre-listing statement issued on 30          
November 2011 ("the pre-listing statement") and to the announcement released    
on SENS on 5 December 2011, which included the company`s abridged pre-          
listing statement, detailing the offer by way of private placement ("the        
private placement") of Synergy A linked units, the subsequent listing on the    
JSE of the company`s A and B linked units and a potential vendor                
consideration placing of B linked units ("the vendor consideration              
placing").                                                                      
Synergy has successfully raised an aggregate amount of R293,1 million           
through the private placement and vendor consideration placing, as further      
detailed below.                                                                 
Synergy placed 26,182,351 of its A linked units with invited investors under    
the private placement at an issue price of R8.58 per A linked unit, raising     
an amount of R224,6 million.                                                    
Successful applicants under the private placement will be advised of their      
allocation of A linked units by no later than Tuesday, 13 December 2011.        
The allocated A linked units will be transferred to successful applicants on    
a `delivery-versus-payment` basis on the date of listing being Wednesday, 14    
December 2011.                                                                  
Accordingly, 26,182,351 Synergy A linked units and 60 000 000 Synergy B         
linked units will be listed in the "Real Estate - Real Estate Holdings and      
Development" sector of the Main Board of the JSE with effect from the           
commencement of trade on the JSE on Wednesday, 14 December 2011. Synergy A      
linked units will trade under the abbreviated name "Synergy A" with JSE code    
unitholders holding 32 or more Redefine linked units on the record date         
shall receive their entitlement in accordance with the table of entitlement     
contained in Annexure 8 to the unbundling circular.                             
Johannesburg                                                                    
8 December 2011                                                                 
Corporate advisor, legal advisor and sponsor to Redefine and Arrowhead          
Java Capital                                                                    
Date: 08/12/2011 17:02:17 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.                                          
Nature of transaction         Sale of Contracts for Difference on the open      
                             market by the GH Family Trust of which Mr          
                             Hayes is a beneficiary                             
Written clearance to deal                                                       
received                      Yes                                               
Cape Town                                                                       
Date 6 December 2011                                                            
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 06/12/2011 15:12:42 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