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VUKILE PROPERTY FUND LIMITED - Mandatory and comparable offers to the linked unitholders of Synergy Income Fund Limited wholly unconditional

Release Date: 12/12/2014 16:51
Code(s): VKE     PDF:  
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Mandatory and comparable offers to the linked unitholders of Synergy Income Fund Limited wholly unconditional

VUKILE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/027194/06)
JSE share code: VKE NSX share code: VKN
ISIN: ZAE000056370
(Granted REIT status with the JSE)
(“Vukile”)


MANDATORY AND COMPARABLE OFFERS TO THE LINKED UNITHOLDERS OF SYNERGY INCOME FUND LIMITED WHOLLY UNCONDITIONAL


Linked unitholders of Synergy Income Fund Limited (“Synergy”) are referred to the announcement released on SENS
on 5 December 2014 wherein Synergy linked unitholders were advised that an offer circular was posted to Synergy
linked unitholders in respect of:

-     a mandatory offer (the “mandatory offer”) by Vukile to acquire all of the Synergy B linked units not already
      owned by Vukile for an offer consideration of 1 Vukile linked unit for every 2.67 Synergy B linked units
      disposed of in terms of the mandatory offer; and

-     a comparable offer (the “comparable offer”) by Vukile to acquire all of the Synergy A linked units for an offer
      consideration of 1 Vukile linked unit for every 1.65 Synergy A linked units disposed of in terms of the
      comparable offer,

(collectively the “offers”).

Synergy linked unitholders are advised that Vukile has received unconditional approval in writing from the
Competition Authorities, in terms of the Competition Act, 89 of 1998, in relation to the acquisition by Vukile of
control of Synergy and/or Synergy’s underlying property portfolio. The offers are now open for acceptances on an
unconditional basis.

The mandatory offer consideration and the comparable offer consideration will be settled within 6 business days of
acceptance of the mandatory offer and/or comparable offer, as the case may be.

As at the date of this announcement, no acceptances of the offers have been received. Vukile holds 61 428 425
Synergy B linked units (representing 39.965% of the Synergy linked units in issue).

A finalisation announcement (including the timetable in respect of the offers and the closing date of the offers) will be
released on SENS in due course. The closing date of the offers, as set out in the finalisation announcement, will be at
least 10 business days after the finalisation announcement is released on SENS and will not be earlier than 23 January
2015.

12 December 2014


Corporate advisor, legal advisor and JSE sponsor 
Java Capital                                

NSX sponsor
IJG Securities (Pty) Ltd

Date: 12/12/2014 04:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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