ATLANTIC LEAF PROPERTIES LIMITED - Summary of substantial transaction circular and withdrawal of cautionary announcements

Summary of substantial transaction circular and withdrawal of cautionary announcements

Atlantic Leaf Properties Limited
(Incorporated in the Republic of Mauritius on 11 November 2013)
(Registration number: 119492 C1/GBL)
SEM share code: ALPL.N0000
JSE share code: ALP
ISIN: MU0422N00009
(“Atlantic Leaf” or “the company”)


SUMMARY OF SUBSTANTIAL TRANSACTION CIRCULAR AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENTS



Shareholders and the public in general are referred to the cautionary announcements released on 16 April 2014 and on 30 May
2014 (collectively the “Cautionary Announcements”) relating to the acquisition by the company of the entire issued share
capital of Seahawk Investments Limited (the “Transaction”) which is categorised as a Substantial Transaction under Chapter 13
of the Listing Rules of the Stock Exchange of Mauritius Ltd (“SEM”).

Seahawk Investments Limited (“Seahawk”) is an investment holding company which indirectly holds a 30% interest in a
portfolio of 30 retail warehouse properties located in the United Kingdom, currently tenanted by Booker Group PLC (the “Booker
Portfolio”), as well as investments in certain debt securities related to the Booker Portfolio.

The cash consideration payable by Atlantic Leaf for the Transaction is an amount of GBP 11,535,219.12, which has been
determined by taking into account the total return attributable to Seahawk as a result of its investments in the Booker Portfolio.

The Transaction is expected to yield a number of key benefits to Atlantic Leaf. These benefits are summarised below:

    1.   Immediate increase in turnover and profit after tax;
    2.   Attractive forward yield and returns to Atlantic Leaf relative to other asset classes;
    3.   Stable and contractual cash flows and dividend income;
    4.   Establishes a meaningful presence and footprint in the company’s targeted investment jurisdictions;
    5.   Low risk investment opportunity (acquisition of existing assets as opposed to ‘green field’/ development opportunity);
    6.   Diversification of Atlantic Leaf’s investment portfolio in line with the company’s investment policy; and
    7.   Creates a platform from which Atlantic Leaf can launch further acquisition and expansion opportunities.

A Substantial Transaction Circular has been prepared by the company in accordance with Chapter 13 of the Listing Rules of the
SEM and has been vetted by the SEM.

Shareholders and the public in general are further advised that the Substantial Transaction Circular has been distributed to all
shareholders, and the Transaction was subsequently approved by the requisite majority of shareholders, by way of a resolution in
writing.

Copies of the Substantial Transaction Circular issued in relation to the Transaction, are available for inspection during normal
office hours (from 9.00 hours to 17.00 hours) at the registered office of the company which is situated at c/o Intercontinental Trust
Ltd, Level 3, Alexander House, 35 Cybercity, Ebene 72201, Republic of Mauritius.

Shareholders and the public in general are also advised that a copy of the Substantial Transaction Circular has been published on
the website of the SEM (www.stockexchangeofmauritius.com) and on the website of the company (www.atlanticleaf.mu).

Shareholders are referred to the Cautionary Announcements and are advised that as the Substantial Transaction Circular has now
been made available to shareholders, caution is no longer required to be exercised by shareholders when dealing in their securities.

Atlantic Leaf has its primary listing on the SEM and a secondary listing on the JSE.

By Order of the Board

For further information please contact:

South African joint corporate advisor and JSE sponsor
Java Capital                                                                   +27 11 283 0042
South African joint corporate advisor
Leaf Capital                                                                   +27 21 657 1180
Corporate secretary
Intercontinental Trust Limited                                                 +230 403 0800

4 June 2014


This notice is issued pursuant to SEM Listing Rule 13.15(b)(i) and the Securities Act 2005. The Board of Directors of Atlantic
Leaf Properties Limited accepts full responsibility for the accuracy of the information contained in this announcement.

Date: 04/06/2014 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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