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Redefine International P.L.C. Investment acquisition and issue of equity
REDEFINE PROPERTIES INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2010/009284/06)
JSE share code: RIN ISIN code: ZAE000149282
(“RIN”)
Set out below is an announcement which was released by Redefine International P.L.C. (“Redefine
International”), the London Stock Exchange-listed subsidiary of RIN, on the Regulatory News Service
(“RNS”) of the London Stock Exchange today, 1 July 2013. The acquisition referred to in the announcement
does not constitute a transaction in terms of the JSE Listings Requirements. The announcement set out
below is for information purposes only.
REDEFINE INTERNATIONAL P.L.C.
(“Redefine International” or the “Company”)
INVESTMENT ACQUISITION AND ISSUE OF EQUITY
Redefine International, the income focused property company, is pleased to announce that it has acquired the remaining
minority interests in Newington House Limited, Ciref Malthurst Limited and Trito Kwik-Fit Limited (the “Entities”) for
an aggregate purchase price of £1,992,223 (the “Acquisition”). The Acquisition, which is in line with the Company’s
strategy of acquiring the underlying minority interests in its property portfolio, simplifies the ownership structure and
enables the Company to benefit from 100% of the income and potential capital gains from these investment properties.
The purchase price has been settled by the issue of 5,108,290 new Redefine International ordinary shares of 8 pence each
in the share capital of the Company (the “Consideration Shares”) to the minority shareholders of the Entities at a price of
39 pence per Consideration Share. The Consideration Shares represent approximately 0.5 per cent. of the current issued
share capital of the Company. Settlement of the purchase price through the issue of the Consideration Shares will enable
the Company to retain its existing cash balances for potential future acquisitions.
Newington House Limited, a company that owns an office building in Southwark, London, was 76.7% owned by the
Company, prior to the Acquisition. Ciref Malthurst Limited, the ultimate shareholder of a portfolio of 19 petrol stations,
was 84.0% owned by the Company, prior to the Acquisition. Trito Kwik-Fit Limited, the ultimate shareholder of a
portfolio of 27 Kwik-Fit outlets, was 84.2% owned by the Company, prior to the Acquisition. Following the Acquisition,
the Company will own 100% of the Entities.
An application has been made for the Consideration Shares to be admitted to the Premium Segment of the Official List of
the United Kingdom Listing Authority and to trading on the London Stock Exchange’s Main Market for listed securities
and it is expected that such admission will occur on or around 4 July 2013 and these shares will rank pari passu in all
respects with the Company’s existing ordinary shares of 8 pence each (“Ordinary Shares”) in issue.
Following the Acquisition, the total number of voting rights in the Company is 967,963,757 and no Ordinary Shares are
held in treasury. The figure of 967,963,757 Ordinary Shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in
their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Commenting on the transaction, Chairman Greg Clarke said:
“This acquisition is in line with the Company’s stated strategy of simplifying the group ownership structure by acquiring
minority shareholder interests in underlying investments over time”.
Further enquiries:
Redefine International Property Management Limited
Investment Adviser
Michael Watters, Stephen Oakenfull Tel: +44 (0) 20 7811 0100
FTI Consulting
Public Relations Adviser
Stephanie Highett, Dido Laurimore, Faye Walters Tel: +44 (0) 20 7831 3113
1 July 2013
Sponsor to Redefine Properties International Limited
Java Capital
Date: 01/07/2013 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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