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Update on proposed transaction and renewal of cautionary announcement
Fountainhead Property Trust
A Collective Investment Scheme in property registered in terms of the Collective Investment
Schemes Control Act, No. 45 of 2002 and managed by Fountainhead Property Trust
Management Limited
(Registration No. 1983/003324/06)
Share Code: FPT
ISIN Code: ZAE000097416
("Fountainhead”)
Update on proposed transaction and renewal of cautionary announcement
Unitholders of Fountainhead (“Unitholders”) are referred to the cautionary announcement
released on the Securities Exchange News Service ("SENS") on 11 September 2012 by
Redefine Properties Limited ("Redefine") as well as the cautionary announcement released
by Fountainhead on 10 August 2012, relating to Redefine’s potential unsolicited offer to
acquire all of the assets of Fountainhead in return for a combination of Redefine units and
Hyprop Investments Limited units (“proposed transaction”).
The Board of Directors (“Board”) of Fountainhead Property Trust Management Limited has
constituted an independent sub-committee (“Independent Committee “) which, together with
its advisors, will consider any such offer which may be received by the Board.
The Independent Committee has appointed Rand Merchant Bank, a division of FirstRand
Bank Limited, and Bowman Gilfillan Inc. to assist it with any such evaluation should an offer
be received, and in the event that such offer is received, appoint an independent expert to
advise the Board on the fairness of such offer.
As a result of the uncertainty surrounding the proposed transaction, Unitholders are advised
to continue to exercise caution when trading in their Fountainhead units until a further
announcement is made.
13 September 2012
Merchant bank and transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Sponsor
THE STANDARD BANK OF SOUTH AFRICA LIMITED
Date: 13/09/2012 05:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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