ACUCAP PROPERTIES LIMITED - Results of the Follow-On Offer

Results of the Follow-On Offer

                                                     Sycom Property Fund
Acucap Properties Limited                            A Collective Investment Scheme in Property
(Incorporated in the Republic of South Africa)       ("CISP") registered in terms of the Collective
(Registration number 2001/021725/06)                 Investment Schemes Control Act, No. 45 of
Share code: ACP                                      2002 (“CISCA”) and managed by Sycom
ISIN: ZAE000188660                                   Property Fund Managers Limited
(Approved as a REIT by the JSE)                      (Registration number 1986/002756/06)
(“Acucap”)                                           Share code: SYC ISIN: ZAE000019303
                                                     (Approved as a REIT by the JSE)
                                                     (“Sycom”)



RESULTS OF THE FOLLOW-ON OFFER


Acucap shareholders and Sycom unitholders are referred to the announcement published on SENS
on 12 June 2014, wherein the board of directors of Acucap announced the extension of a follow-on
offer (the “Follow-On Offer”) to those Sycom unitholders that did not participate in the initial offer
as communicated to Sycom unitholders on SENS on 27 March 2014 (the “Initial Offer”)(the "Remaining
Sycom Unitholders”), to acquire all of their Sycom units on the same terms as the Initial
Offer.

As communicated to all Remaining Sycom Unitholders on SENS on 12 September 2014 the Follow-On
Offer closed on Friday, 26 September 2014. Pursuant to the Initial Offer and the Follow-On Offer,
Acucap now holds 83.40% (comprising 166,906,862 units) in Sycom.




Cape Town
29 September 2014


Sponsor to Acucap and Sycom

Questco
Date: 29/09/2014 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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