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FVT - Fairvest Property Holdings Limited - Update on Property Acquisitions and the renewal of Cautionary Announcement Fairvest Property Holdings Limited Incorporated in the Republic of South Africa (Registration number: 1998/005011/06) Linked unit code: FVT ISIN: ZAE000034658 ("Fairvest" or "the Company") UPDATE ON PROPERTY ACQUISITIONS AND THE RENEWAL OF CAUTIONARY ANNOUNCEMENT A UPDATE ON PROPERTY ACQUISITIONS Linked unitholders are referred to the announcement dated 13 April 2012, whereby linked unitholders of the Company were advised that the Company had entered into: * an agreement with SA Retail Properties (Proprietary) Limited and SA Corporate Real Estate Fund (a Collective Investment Scheme in Property established in terms of the Collective Investment Schemes Control Act, No 45 of 2002) (collectively "SA Corporate Real Estate") to acquire a portfolio of retail and office properties, including the letting enterprises to be conducted in respect of such properties ("the SA Corporate Real Estate Property Portfolio"); * an agreement with Martycel Prop CC to acquire a retail and office property, including the letting enterprise to be conducted in respect of such property ("the Martycel Property"); and * an agreement with Lodestone Investments (Proprietary) Limited to acquire a retail property, including the letting enterprise to be conducted in respect of such property ("the Lodestone Property"). Linked unitholders are advised of the following progress in relation to the above mentioned acquisitions: i) The SA Corporate Real Estate Property Portfolio - Linked unitholders are hereby advised that Fairvest has been granted an extension by SA Corporate Real Estate until 2 July 2012 for the satisfactory completion of the due diligence investigation on the SA Corporate Real Estate Property Portfolio. ii) The Martycel Property - Linked unitholders are hereby advised that the condition precedent relating to the satisfactory completion of a due diligence investigation has not been fulfilled. Accordingly, the Martycel Property will therefore not be acquired by Fairvest and the Martycel Property acquisition agreement is of no further force or effect on the Company. iii) The Lodestone Property - Linked unitholders are hereby advised that the condition precedent relating to the satisfactory completion of a due diligence investigation has not been fulfilled. Accordingly, the Lodestone Property will therefore not be acquired by Fairvest and the Lodestone Property acquisition agreement is of no further force or effect on the Company. B RENEWAL OF CAUTIONARY ANNOUNCEMENT Linked unitholders are referred to the cautionary announcement dated 13 April 2012 and are hereby advised to continue exercising caution when dealing in the Company`s securities until a further announcement containing the pro forma financial effects and the forecast financial information in relation to the SA Corporate Real Estate Property Portfolio acquisition is made. 30 May 2012 Cape Town Sponsor and Corporate Advisor: PSG Capital Transaction Advisor and Bookrunner: Java Capital Date: 30/05/2012 16:48:01 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.
