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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 (a''arrowheada'')
ACQUISITION OF PROPERTY LETTING ENTERPRISE ANDA CAUTIONARY ANNOUNCEMENT INTRODUCTION
Linked unitholders are advised that Arrowhead has concluded an agreement for the acquisition of a property letting enterprise and related immovable property situate at 106 Booysens Road, JohannesburgA (a''the propertya'') from Dunrose Investments 82 (Proprietary) Limited (a''Dunrosea'') (a''theA acquisitiona'').
The property is a mixed-use development. The ground floor of the property is used for retail purposes and the balance of the property is used for offices and is single tenanted.
The acquisition provides Arrowhead with an opportunity to increase its commercial property portfolio exposure whilst improving the quality, unexpired lease profile and average size per property of theA portfolio. TERMS OF THE ACQUISITION AND CONDITIONS PRECEDENT
The total purchase consideration payable by Arrowhead is R112 298 441 which amount includes VAT levied at a rate of 0% (the a''purchase pricea''). The purchase price will be discharged in cash on the date on which the property is transferred into Arrowheada''s name (the a''transfer datea''). Arrowhead will be raising the cash pursuant to a vendor consideration placement of Arrowhead A and B linked units. The acquisition is conditional on:
a'' Arrowhead securing finance for the acquisition;
a'' The shareholders of Dunrose passing a special resolution approving the acquisition; and a'' The lessee of the office space receiving written notice from Dunrose of the cession and assignment of the existing lease agreement from Dunrose to Arrowhead with effect from the transfer date. THE PROPERTY PORTFOLIO
The property specific information required in terms of the JSE Listings Requirements in relation to the acquisition is set out below.
Rentable Weighted Property name area average rental and address Sector Geographical location (m2) per m2 106 Booysens Road,
Johannesburg Commercial Johannesburg, Gauteng 16 346 R66.88
No independent valuation has been carried out and the board of Arrowhead is of the view that the purchase price of R112 298 441 represents the value of the property as at the transfer date. CATEGORISATION OF THE ACQUISITION
The acquisition is classified as a Category 2 transaction in terms of the JSE Listings Requirements. Accordingly it is not subject to approval by Arrowheada''s linked unitholders. FINANCIAL EFFECTS AND CAUTIONARY
The financial effects of the acquisition 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 acquisition are announced. 3 July 2012
Sponsor Java Capital
Date: 03/07/2012 05:13:00 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.
