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RDF - Redefine Properties Limited - Apportionment ratio for tax purposes Redefine Properties Limited (Registration No. 1999/018591/06) JSE code: RDF ISIN Code: ZAE000143178 ("Redefine") APPORTIONMENT RATIO FOR TAX PURPOSES Redefine linked unitholders are referred to the circular dated 30 September 2011 (the "circular") relating to, inter alia, the unbundling of Arrowhead shares (the "unbundling")and distribution of Arrowhead debentures to Redefine linked unitholders in the ratio of 1 Arrowhead A and 1 Arrowhead B linked unit for every 31.70889 Redefine linked units held. The purpose of this announcement is to notify Redefine linked unitholders of Redefine`s calculation of the apportionment ratio (the "apportionment ratio") between the Arrowhead shares received in terms of the unbundling (the "unbundled Arrowhead shares") and the Redefine shares in respect of which the Arrowhead shares were received (the "retained Redefine shares")for the purposes of section 46 of the Income Tax Act, 1962 (the "Act"). The apportionment ratio is used to apportion the combined expenditure (being the original expenditure incurred in respect of the retained Redefine shares in terms of section 11(a), 22(1) or 22(2) of the Act for shares held on trading account and paragraph 20 of the Eighth Schedule of the Act for shares held on capital account) between the unbundled Arrowhead shares and the retained Redefine shares for the determination of profits and losses, of a capital or trading nature, on any future disposals of the unbundled Arrowhead shares or the retained Redefine shares. The apportionment ratio has been calculated based on the closing prices of the Redefine and Arrowhead A and B linked units (R7.37, R5.66 and R4.42 respectively) on the 19 December 2011, from which the face values of the Redefine and Arrowhead A and B debentures (173.58 cents, 101.76 cents and 101.76 cents respectively) has been deducted. Based on this calculation the apportionment ratio is 2.5% to the unbundled Arrowhead shares forming part of the Arrowhead A linked units, 1.8% to the unbundled Arrowhead shares forming part of the Arrowhead B linked units and 95.7% to the retained Redefine shares. A summary of the potential South African taxation considerations of the unbundling for holders of Redefine linked units is set out in Annexure 7 of the circular. Redefine linked unitholders are, however, advised in all circumstances to seek their own advice regarding taxation. Johannesburg 20 December 2011 Corporate advisor, legal advisor and sponsor to Redefine and Arrowhead Java Capital Date: 20/12/2011 13:05:00 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.
