SYNERGY INCOME FUND LIMITED - Update Regarding Acquisition of Atlantis City Shopping Centre and Renewal of Cautionary Announcement

Update Regarding Acquisition of Atlantis City Shopping Centre and Renewal of Cautionary Announcement

SYNERGY INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/032604/06)
JSE share code for A linked units: SGA     ISIN code: ZAE000161550
JSE share code for B linked units: SGB     ISIN code: ZAE000162293
(“Synergy” or the “company”)


UPDATE REGARDING ACQUISITION OF ATLANTIS CITY SHOPPING CENTRE AND RENEWAL OF CAUTIONARY ANNOUNCEMENT


ACQUISITION OF ATLANTIS CITY SHOPPING CENTRE

Linked unitholders are referred to the announcement released on SENS on 15 May 2013 in which it was announced that Synergy
had concluded an agreement with The Property Incubator Proprietary Limited to acquire the rental enterprise known as Atlantis
City Shopping Centre, Western Cape for a preliminary purchase price of R334 million (“the acquisition”).

The parties have now received notice that the acquisition has been unconditionally approved by the Competition Authorities.

As this approval was the last outstanding condition, the acquisition will now be implemented in accordance with its terms. As
previously announced the parties agreed an effective date of transfer of 1 September 2013, on which date possession of the rental
enterprise and all risk in and to the property will pass to Synergy.


RENEWAL OF CAUTIONARY ANNOUNCEMENT

The company remains in negotiations for the acquisition of a further portfolio of properties and accordingly, Synergy linked
unitholders are advised to continue to exercise caution when dealing in their linked units until a further announcement is made.


22 July 2013


Sponsor and corporate advisor
Java Capital

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