Successful completion of over-subscribed Rights Offer SYCOM PROPERTY FUND (Sycom) A Collective Investment Scheme in Property registered in terms of the Collective Investment Schemes Control Act, No. 45 of 2002 and managed by Sycom Property Fund Managers Limited (SPFM) (Registration number 1986/002756/06) JSE Share code: SYC ISIN: ZAE000019303 SUCCESSFUL COMPLETION OF OVER-SUBSCRIBED RIGHTS OFFER Holders (Unitholders) of participatory interests (Units) in Sycom are referred to the announcement published on SENS on 11 April 2013 and in the South African press on 12 April 2013, wherein Sycom announced its intention to raise R900 000 002 by way of a fully underwritten renounceable rights offer (the Rights Offer) of 33 027 523 new Sycom units (the Rights Offer Units) to qualifying Unitholders at a subscription price of 2 725 cents (R27.25) per Rights Offer Unit, at a ratio of entitlement of 13.28519 Rights Offer Units for every 100 Units held on the Rights Offer record date, being Friday, 26 April 2013. The Rights Offer closed on Friday, 24 May 2013 and the Board of Directors of SPFM is pleased to announce that it was significantly over-subscribed, as set out in the table below. Number of Rights Rand value % of Rights Offer Units Offer Units Acceptances 32 481 054 885 108 721.50 98.4 Excess applications 15 096 792 411 387 582.00 45.7 Total 47 577 846 1 296 496 303.50 144.1 Excess applications A total of 546 469 Rights Offer Units which were not taken up will be allotted to satisfy excess applications. Excess Rights Offer Units will be allocated in an equitable manner, taking cognisance of the number of Units held by each applicant prior to such allocation (including those taken up as a result of the Rights Offer) and the number of Rights Offer Units for which application has been made. Allotment and payment Unit certificates will be posted to certificated Unitholders who have followed their rights in terms of the Rights Offer and/or who have subscribed for, and been allocated, excess Rights Offer Units on or about Wednesday, 29 May 2013. Certificated Unitholders will be refunded monies in respect of their excess applications not allocated, or in respect of incomplete or invalid applications on or about Wednesday, 29 May 2013. The Central Securities Depository Participant (“CSDP”) or broker accounts of dematerialised Unitholders who have followed their rights in terms of the Rights Offer will be credited with their Rights Offer Units allotted and debited with any payments due in respect of incomplete or invalid applications on or about today, Monday, 27 May 2013. The CSDP or broker accounts of dematerialised Unitholders who have applied for excess Rights Offer Units will be credited with the excess Rights Offer Units allocated and debited with any payments due in respect of their excess applications not allocated on or about Wednesday, 29 May 2013. Cape Town 27 May 2013 Corporate adviser and transaction sponsor QuestCo (Pty) Ltd Legal advisor Cliffe Dekker Hofmeyr Inc. Reporting accountants KPMG Inc. Sponsor Absa Bank Limited (acting through its Corporate and Investment Banking Division) Date: 27/05/2013 12:25:00 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.