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FORTRESS INCOME FUND LIMITED - Accelerated book build

Release Date: 25/11/2014 09:00
Code(s): FFB FFA     PDF:  
Wrap Text
Accelerated book build

FORTRESS INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2009/016487/06)
JSE share codes: FFA      ISIN: ZAE000141313
                  FFB     ISIN: ZAE000141321
(Approved as a REIT by the JSE)
(“Fortress” or “the company”)


ACCELERATED BOOK BUILD


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, JAPAN OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO

Subject to pricing acceptable to Fortress, Fortress proposes an equity raise of up to a maximum of
R485 million (the “equity raise”) through the issue of new Fortress A and B linked units (“new linked
units”) in terms of a vendor consideration placing, to fund the acquisition of Weskus Mall, as announced on
SENS on 6 October 2014.

The equity raise will be implemented through an accelerated book build process (the “book build”). All
public and non-public investors (as defined under paragraphs 4.25 – 4.26 of the JSE Listings Requirements)
may participate in the vendor consideration placing, subject to a minimum subscription application of
R1 million per applicant. The book build is now open and the company reserves the right to close it at any
time thereafter.

The new linked units, when issued, will be credited as fully paid and will rank pari passu in all respects with
the existing linked units. Pricing and allocations will be announced as soon as practicable following the
closing of the book build.

Java Capital is acting as sole bookrunner.

Java Capital contact details:

Andrew Brooking
fortress@javacapital.co.za
Tel: (011) 283 0177

Carl Esterhuysen
fortress@javacapital.co.za
Tel: (011) 283 0050


25 November 2014


Bookrunner and sponsor

Java Capital


This announcement is not for publication or distribution or release, directly or indirectly, in the United States
of America (including its territories and possessions, any state of the United States and the District of
Columbia).
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This announcement does not constitute or form part of an offer or solicitation of an offer to purchase or
subscribe for securities in the United States or any other jurisdiction. The securities referred to herein have
not been and will not be registered under the United States Securities Act of 1933, as amended (the
“Securities Act”), and may not be offered or sold, directly or indirectly, in the United States, absent
registration or an exemption from, or transaction not subject to, the registration requirements of the
Securities Act. No public offering of securities is being made in the United States. This announcement does
not and is not intended to constitute an offer to the public in South Africa in terms of the South African
Companies Act 71 of 2008 (as amended). Neither this announcement nor any copy of it may be taken,
transmitted or distributed, directly or indirectly in or into the United States, Canada, Australia or Japan.

This announcement is for information purposes only and in member states of the European Economic Area
(other than the United Kingdom) is directed only at persons who are qualified investors (as defined in article
2(1)(e) of EU directive 2003/71/EC (the “Prospectus Directive”) and the relevant implementing rules and
regulations adopted by each Member State). In the United Kingdom, this announcement is directed only at
the following persons: investment professionals falling within article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); and high net worth entities, and other
persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order.

This announcement has been issued by and is the sole responsibility of Fortress. No representation or
warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or
will be accepted by Java Capital or by any of their respective affiliates or agents as to, or in relation to, the
accuracy or completeness of this announcement or any other written or oral information made available to or
publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

Date: 25/11/2014 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

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