Sharenet Sites 
Sharenet Sites
AWAAWB - Arrowhead Properties Limited - Acquisition of Midtown Mall and cautionary announcement ARROWHEAD PROPERTIES LIMITED (formerly Nervada Trading 13 (Proprietary) Limited) (Incorporated in the Republic of South Africa) (Registration number 2011/000308/06) JSE code for A-linked units: AWA ISIN for A-linked units: ZAE000158101 JSE code for B-linked units: AWB ISIN for B-linked units: ZAE000158119 ("Arrowhead" or "the company") ACQUISITION OF MIDTOWN MALL AND CAUTIONARY ANNOUNCEMENT INTRODUCTION Linked unitholders are advised that Arrowhead has concluded an agreement for the acquisition of phases 2, 3, 5 and 8 of Midtown Mall, Rustenburg ("the acquisition") from the Eric Ellerine Family Trust, the Sidney Ellerine Family Trust, the Selsick Family Trust and Hica Properties (Proprietary) Limited (the "vendors"). Phases 2, 5 and 8 of Midtown Mall are freehold properties and phase 3 is a leasehold property. The acquisition provides Arrowhead with an opportunity to increase its retail portfolio exposure and gain access to one of the fastest growing retail nodes in the country. This strategic acquisition will improve the quality and average size of the portfolio and will also improve the geographic spread of the company`s properties. TERMS OF THE ACQUISITIONS AND CONDITIONS PRECEDENT The total purchase consideration payable by Arrowhead in respect of the acquisition is R 178 000 000 which amount includes VAT levied at a rate of 0% (the "purchase price"). Payment of the purchase price for the acquisition will be secured by way of a vendor consideration placement of Arrowhead A and B linked units. The effective date of the acquisition will be the first day of the month in which either the last freehold property is transferred or the cession of the leasehold is registered (whichever is the later). The purchase price shall be discharged in cash on the effective date. The acquisition is conditional on: - the owner of the leasehold property consenting to the cession of the leasehold to Arrowhead; - the vendors passing the requisite resolutions required to approve the disposal of phases 2, 3, 5 and 8 of Midtown Mall to Arrowhead; and - approval by the Competition Authorities. THE PROPERTY PORTFOLIO The property specific information required in terms of the JSE listings Requirements in relation to the acquisition including property name and address, geographical location, rentable area, sector, weighted average rental per square metre is set out below. Property name Sector Geographical Rentable Weighted and address location Area (m2) Average rental per m2
Midtown Mall, Retail Rustenburg, 16 903 R 85.88 corner Loop and North West Fatima Bhayat, Rustenburg No independent valuation has been carried out and the board of Arrowhead is of the view that the purchase price of R 178 000 000 represents the value of the property as at the effective date. CATEGORISATION OF THE ACQUISITIONS The acquisition is classified as a Category 2 transaction in terms of the JSE Listings Requirements. Accordingly it is not subject to approval by Arrowhead`s linked unitholders. FINANCIAL EFFECTS AND CAUTIONARY The financial effects of the acquisitions are still in the process of being finalised and will be published in due course. Unitholders of Arrowhead are advised to exercise caution when dealing in their linked units until the financial effects of the transaction are announced. 18 May 2012 Sponsor Java Capital Date: 18/05/2012 14:45:01 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.
