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HPA/HPB - Hospitality Property Fund Limited - Rights offer declaration
announcement, declaration of distribution and withdrawal of cautionary
Hospitality Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/014211/06)
Share code for A-linked units: HPA
ISIN for A-linked units: ZAE000076790
Share code for B-linked units: HPB
ISIN for B-linked units: ZAE000076808
("Hospitality" or "the company")
RIGHTS OFFER DECLARATION ANNOUNCEMENT, DECLARATION OF DISTRIBUTION AND
WITHDRAWAL OF CAUTIONARY
RIGHTS OFFER
Linked unitholders are referred to the "Terms of the rights offer" announcement
released on SENS on 10 April 2012, in which it was announced that Hospitality
would undertake a rights offer ("the rights offer") in order to raise
approximately R530 million.
Hospitality has received irrevocable commitments from various linked unitholders
to either follow their rights or underwrite the rights offer. The effect of
these commitments is that the rights offer is fully committed/underwritten.
The salient dates and times of the rights offer are set out below.
The rights offer remains conditional on the JSE formally approving the rights
offer circular.
2012
Last day for fulfilment of conditions precedent to Friday, 11 May
the rights offer and finalisation announcement on
SENS
Monday, 14 May
Finalisation announcement published in the press
Last day to trade in Hospitality linked units in Friday, 18 May
order to participate in the rights offer on
Listing and trading of letters of allocation on the
JSE on Monday, 21 May
Hospitality linked units commence trading on the JSE
ex-rights offer entitlement on Monday, 21 May
Record date for determination of linked unitholders
entitled to participate in the rights offer (initial Friday, 25 May
record date) on
Rights offer opens at 12:00 on Monday, 28 May
Rights offer circular and forms of instruction
posted to linked unitholders, where applicable, on Monday, 28 May
Dematerialised linked unitholders will have their
accounts at their CSDP or broker automatically Monday, 28 May
credited with their entitlement on
Certificated linked unitholders on the register will
have their entitlement credited to an account held Monday, 28 May
with the transfer secretaries on
Last day to trade letters of allocation on the JSE Friday, 8 June
on
Maximum number of rights offer linked units listed
and trading therein commences on the JSE on Monday, 11 June
Rights offer closes at 12:00 on (see note 1) Friday, 15 June
Record date for letters of allocation (final record Friday, 15 June
date)
Rights offer linked units issued on Monday, 18 June
Dematerialised unitholders accounts updated and Monday, 18 June
debited by CSDP or broker with rights offer linked
units on
Results of rights offer announced on SENS on Monday, 18 June
Results of rights offer announced in the press on Tuesday, 19 June
Notes:
1 Dematerialised linked unitholders are required to inform their CSDP or
broker of their instructions in terms of the rights offer in the manner and
time stipulated in the agreement governing the relationship between the
unitholder and its CSDP or broker.
2 Linked unit certificates may not be dematerialised or rematerialised
between Monday, 21 May 2012 and Friday, 25 May 2012, both days inclusive.
3 Dematerialised linked unitholders will have their accounts at their CSDP or
broker automatically credited with their rights and certificated linked
unitholders will have their rights credited to a nominee account at
Computershare.
4 CSDPs effect payment in respect of dematerialised linked unitholders on a
delivery-versus-payment method.
5 The dates above are subject to change. Any changes will be released on
SENS.
DECLARATION OF INTEREST PAYMENT
The distribution, detailed in the company results announcement released on SENS
on 6 March 2012 pertaining to the six month period ended 31 December 2011 (the
"distribution") has now been declared by the board. The payment of the
distribution remains subject to Absa`s consent and subject to the JSE formally
approving the rights offer circular. Subject to the fulfilment of these
conditions, linked unitholders will receive debenture interest payment number 12
for the six month period ended 31 December 2011, of 63.34 cents per A linked
unit and 7.91 cents per B linked unit in accordance with the timetable below.
2012
Last day for fulfilment of conditions precedent and Friday, 11 May
finalisation announcement on SENS
Last day to trade cum interest Friday, 18 May
Linked units will trade ex interest Monday, 21 May
Record date Friday, 25 May
Payment date Monday, 28 May
Unitholders may not dematerialise or rematerialise their linked units between
Monday, 21 May 2012 and Friday, 25 May 2012, both days inclusive.
WITHDRAWAL OF CAUTIONARY
Hospitality linked unitholders are referred to the cautionary announcement dated
23 January 2012 and renewal of cautionary announcement dated 6 March 2012 and
are advised that following the release of the terms, conditions and timing of
the rights offer, caution is no longer required to be exercised by linked
unitholders when dealing in their linked units.
Johannesburg
30 April 2012
Lead transaction sponsor and corporate advisor
Java Capital
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 30/04/2012 15:35:15 Supplied by www.sharenet.co.za
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