ARROWHEAD PROPERTIES LIMITED - Revised listing particulars

Revised listing particulars

ARROWHEAD PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2011/000308/06)
JSE share code: AWA ISIN: ZAE000158101
JSE share code: AWB ISIN: ZAE000158119
(Approved as a REIT by the JSE)
(“Arrowhead” or “the Company”)


REVISED LISTING PARTICULARS


In terms of paragraph 6.19(g) of the JSE Listings Requirements, a company is required to publish revised listing
particulars as soon as it issues in excess of 25% of its issued share capital in a three month period.

The issues of A and B-linked units pursuant to –

-     the acquisition by the Company of 84 966 285 Vividend Income Fund Limited linked units from Coronation Fund
      Managers as announced on SENS on 6 December 2013, which acquisition was discharged by the allotment and
      issue by the Company of 31 777 391 Arrowhead A-linked units and 31 777 391 Arrowhead B-linked units to
      Coronation Fund Managers (“Vividend acquisition”);
-     the acquisition by the Company of the Sasol building from Sasol Pension Fund as announced on SENS on
      13 December 2013, for an aggregate purchase consideration of R250 million, which acquisition was discharged
      partially in cash (raised by the Company pursuant to a vendor placement under the accelerated bookbuild referred
      to below) and partially by the allotment and issue by the Company of 9 259 260 Arrowhead A-linked units and
      9 259 260 Arrowhead B-linked units to Sasol Pension Fund; and
-     the accelerated bookbuild by the Company pursuant to which R490 million was raised on or about 23 January 2014
      by the allotment and issue of 36 431 228 Arrowhead A-linked units and 36 431 228 Arrowhead B-linked units at a
      combined price of R13.45 per A and B linked unit, the proceeds of which have been used to partially fund the
      acquisition of the Monash residences (as announced on SENS on 9 December 2013) and the Sasol building
      (referred to above) as well as those further acquisitions not categorisable for JSE purposes but which were
      announced on SENS on 17 December 2013,

have resulted in the Company exceeding this threshold in the three months ended 31 January 2014 and accordingly the
Company is required in terms of the JSE Listings Requirements to publish revised listing particulars.

The revised listing particulars are in the process of being prepared and will be posted to linked unitholders in due course.

The linked units issued pursuant to the Vividend acquisition were issued in terms of the approval obtained for ordinary
resolution 6 of the notice of annual general meeting of Arrowhead shareholders and debenture holders dated
26 November 2012, placing the authorised but unissued linked units under the control of the directors until the next
annual general meeting (held on 15 January 2014), with the authority to allot and issue all or part thereof at the directors’
discretion.

The linked units issued pursuant to the accelerated bookbuild were issued in terms of the approval obtained for ordinary
resolution 5 of the notice of annual general meeting of Arrowhead shareholders and debenture holders dated
13 November 2013, placing up to 60 million Arrowhead A-linked units and 60 million Arrowhead B-linked units under
the control of the directors to be used to pay for and/or fund acquisitions announced between 13 November 2013 and
8 January 2014.

The allotment and issue of linked units referred to above which have triggered the requirement for the Company to
publish revised listing particulars have been undertaken in terms of these authorisations.

7 March 2014


Sponsor

Java Capital



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