Wrap Text
Capital Raising Of R1 Billion By Way Of A Renouncable Rights Offer
Delta Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/005129/06)
JSE share code: DLT
ISIN: ZAE000172052
(“Delta” or “the Company”)
CAPITAL RAISING OF R1 BILLION BY WAY OF A RENOUNCABLE RIGHTS OFFER
1. Introduction
Delta linked unitholders (“Linked Unitholders”) are advised that Delta intends to raise capital of
up to R1 billion by way of a renounceable rights offer of 119 047 619 Delta linked units (“Rights
Offer Linked Units”) at an issue price of 840 cents per Rights Offer Linked (“the Rights Offer”).
The ratio of rights offered for existing Delta linked units (“Linked Units”) will be announced in the
finalisation announcement, due to be released on the Securities Exchange News Service of the
JSE Limited (“SENS”) (“the JSE”) on 19 March 2013.
The Rights Offer Linked Units will, upon allotment and issue, rank pari passu with the Linked
Units in terms of both voting and distribution rights.
Excess applications, should these be available, will be allocated in an equitable manner, as
further described in paragraph 3 below.
2. Rationale for the Rights Offer
The purpose of the Rights Offer is to raise capital to partially fund the proposed acquisitions by
Delta of various properties that were announced on SENS on 25 January 2013 and 19
February 2013 respectively (“the Acquisitions”) and to create a platform from which Delta can
fund future acquisitions.
3. Excess Rights Offer Linked Units
Linked Unitholders will be invited to apply for excess applications and should these be
available, they will be allocated to applicants in an equitable manner by the directors of Delta
(“the Directors”) in accordance with the provisions of the listings requirements of the JSE.
4. Conditions precedent
The implementation of the Rights Offer is subject to the fulfilment of amongst others the
following suspensive conditions:
– approval of the Rights Offer circular (“the Circular”) by the South African Reserve Bank;
and
– approval by the JSE of the Rights Offer and all documents ancillary thereto.
5. Directors
To the extent possible, it is the intention of the Directors that hold Linked Units to follow their
rights such that their aggregate linked unitholding in Delta will be 13.3%% following
implementation of the Rights Offer. The Directors' ability to follow their rights is dependent on
their ability to raise sufficient funding, and to the extent that the Directors do not follow their
rights, their rights will potentially be renounced.
6. Salient dates and times
The salient dates and times in respect of the Rights Offer are set out below:
2013
Finalisation announcement released on SENS on Tuesday, 19 March
Last day to trade in Linked Units on the JSE in order to settle by the
record date and thus be recorded as a Linked Unitholder in order to Wednesday, 27 March
be entitled to participate in the Rights Offer on
Linked Units trade ex-Rights Offer entitlement on the JSE from Thursday, 28 March
Listing and trading on the JSE of the letters of allocation from the
Thursday, 28 March
commencement of trade on
Record date in order to be entitled to participate in the Rights Offer
Friday, 5 April
on
Rights Offer opens at 09h00 and the Circular, including a form of
Monday, 8 April
instruction (where applicable), mailed to Linked Unitholders on
Last day to trade in the letters of allocation on the JSE in order to
Friday, 19 April
settle by close of the Rights Offer on
Listing and trading on the JSE of Rights Offer Linked Units
Monday, 22 April
commences at 09h00 on
Payment to be made, and form of instruction to be lodged, with the
transfer secretaries by holders of certificated Linked Unitholders by Friday, 26 April
12h00 on
Rights Offer closes at 12h00 on Friday, 26 April
Record date for the letters of allocation on Friday, 26 April
Rights Offer Linked Units issued on Monday 29 April
Results of the Rights Offer announcement released on SENS on Monday, 29 April
Refund cheques, if applicable, and linked unit certificates posted to
certificated Linked Unitholders in respect of excess applications, on Thursday, 4 May
or about
Notes:
1) All times indicated above are South African times.
2) The abovementioned dates and times are subject to amendment. Any such amendment will be
released on SENS and published in the South African press.
3) Linked Units may not be dematerialised/re-materialised between Friday, 28 March 2013 and Friday,
5 April 2013, both days inclusive.
4) CSDPs will effect payment in respect of dematerialised Linked Unitholders on a delivery-versus-
payment basis.
Johannesburg
28 February 2013
Investment Bank and Sponsor
Nedbank Capital
Date: 28/02/2013 04:28:00 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.
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