ANNUITY PROPERTIES LTD - Results of general meeting

Results of general meeting

                                     ANNUITY PROPERTIES LIMITED
                                      (formerly Niqsha Beleggings CC)
                                (Incorporated in the Republic of South Africa)
                                   (Registration Number 2011/145994/06)
                                 Share code: ANP         ISIN: ZAE000165643
                                         (“Annuity” or “the Company”)




                RESULTS OF GENERAL MEETING OF ANNUITY LINKED UNIT HOLDERS


A.   INTRODUCTION

     Linked unit holders of Annuity are referred to the circular to linked unit holders dated 25 October 2012
     regarding the acquisition of various properties for an aggregate purchase consideration of R817.2 million
     (“Proposed Acquisitions”) and a corresponding issue of new linked units for cash (“Private Placement”)
     for up to R482.0 million.

B.   RESULTS OF GENERAL MEETING

     Linked unit holders are advised that the requisite majority of linked unit holders unanimously approved all of
     the ordinary and special resolutions tabled at the general meeting of the Company held today, 23 November
     2012. Specifically, linked unit holders unanimously approved all the necessary resolutions to implement the
     Proposed Acquisitions and the authority to issue linked units in terms of the Private Placement.

C.   PRIVATE PLACEMENT

     The board of directors of Annuity is pleased to advise linked unit holders that pursuant to the results of the
     general meeting, all of the conditions precedent to the Private Placement have now been fulfilled.
     Accordingly, the last day to subscribe for linked units in the Private Placement is 17:00 on Monday, 26
     November 2012.

     Further details relating to the Private Placement will be published in due course.

     Illovo
     23 November 2012




        Lead Investment Bank and                                                          Sponsor to Annuity
                                                    Joint Investment Bank to
      Transaction Sponsor to Annuity
                                                             Annuity
                                                                                           Rand Merchant Bank
             Investec Bank Limited                                                        (a division of FirstRand
                                                        Sasfin Capital
                                                                                               Bank Limited)

           Independent reporting
                                                      Attorneys to Annuity
         accountants and auditors to
                  Annuity
                                                          Glyn Marais Inc
                      PKF

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