ARROWHEAD PROPERTIES LIMITED - Acquisition of 22% of the B linked units in Dipula Income Fund Limited ("Dipula") and cautionary announcement

Acquisition of 22% of the B linked units in Dipula Income Fund Limited ("Dipula") and cautionary announcement

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”)

ACQUISITION OF 22% OF THE B LINKED UNITS IN DIPULA INCOME FUND LIMITED (“DIPULA”) AND CAUTIONARY ANNOUNCEMENT

Arrowhead has concluded an agreement to acquire 34 543 497 Dipula B linked units (comprising 22% of
Dipula’s B linked units) from Investec Asset Management (the “acquisition”). The acquisition is unconditional
and the purchase price will be discharged by the allotment and issue of 18 826 206 Arrowhead A and 18 826
206 Arrowhead B linked units to Investec Asset Management on or about 27 March 2014.

The transaction is in line with Arrowhead’s strategy of only making distribution enhancing acquisitions and
provides Arrowhead with a strategic stake in, and indirect exposure to, Dipula’s R3.75 billion portfolio of
commercial and retail properties that Arrowhead considers complementary to its own portfolio.

The acquisition is a category 2 transaction in terms of the JSE Listings Requirements. The financial effects of
the acquisition are still in the process of being finalised and Arrowhead linked unitholders are advised to
exercise caution when dealing in their linked units until they have been announced.


19 March 2014


Sponsor
Java Capital

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