To view the PDF file, sign up for a MySharenet subscription.

RDF - Redefine Properties Limited - Cautionary announcement

Release Date: 05/04/2012 08:16
Code(s): RDF
Wrap Text

RDF - Redefine Properties Limited - Cautionary announcement Redefine Properties Limited (Registration No. 1999/018591/06) Share Code: RDF ISIN Code: ZAE000143178 ("Redefine") CAUTIONARY ANNOUNCEMENT Linked unitholders are referred to the announcement released on SENS on 30 March 2012 regarding the acquisition by Redefine of the management company ("Manco") of the Fountainhead Property Trust ("Fountainhead"). As set out in the previous announcement, subject to the acquisition of the Manco as well as the requisite support of Redefine and Fountainhead unitholders, Redefine intends making an offer to acquire all of the assets of Fountainhead (the "Fountainhead acquisition") in return for units in Redefine and Hyprop Investments Limited (the "consideration units"). Redefine intends having discussions with key Redefine and Fountainhead unitholders over the next few weeks in order to gauge their views on and support for the Fountainhead acquisition. In this regard a presentation has been prepared that is based on publicly available information in relation to Fountainhead and that provides an overview of the combined Redefine and Fountainhead property portfolio. A copy of the presentation is available on the Redefine web-site - www.redefine.co.za. The presentation includes a statement that it is anticipated that the Fountainhead acquisition would have the effect of increasing Redefine`s distributable earnings by at least 2 cents per unit per annum. These figures have not been reviewed or reported on by Redefines auditors and are based on publicly available information and the assumption (as set out in the previous announcement) that the offer will be priced at a level that, on the distribution of the consideration units, would result in a Fountainhead unitholder receiving Hyprop and Redefine units with a value at or about the `clean` price at which Fountainhead units were trading on the date of that announcement. Redefine unitholders are advised to exercise caution when dealing in their Redefine units until further announcements are made. Johannesburg 5 April 2011 Corporate advisor, legal advisor and sponsor Java Capital Date: 05/04/2012 08:16:01 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.

Share This Story