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Announcement Regarding the Acquisition of AH Plots 25,26,28,29 Lynnwood Road and Withdrawal of Cautionary
Freedom Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2012/129186/06)
Share code: FDP
ISIN: ZAE000185260
(“Freedom” or “the Company”)
Announcement Regarding the Acquisition of AH Plots 25,26,28,29 Lynnwood Road -
Katherine Street and Withdrawal of Cautionary Announcement
1. Introduction
Freedom Property Fund stakeholders are hereby advised that Freedom (‘the Purchaser’) has entered into an
acquisition agreement with The Seaside Trust (“the Seller”) for the purchase of a 70% interest in Manu Bay
which effectively owns the AH Plots 25, 26, 28 & 29 situated off Lynnwood Road, Pretoria for the purchase
consideration of R53 390 000 (Fifty Three million Rand and three hundred and ninety thousand Rand only)
excluding VAT (the “Purchaser Price”) ( “ the Acquisition”).
The effective date of the Acquisition will be the date of registration of transfer of the property into the name
of Freedom, which is expected to be on or about May 2015.
2. Property
The property subject to the Acquisition is the immovable property of the Manu Bay situated at AH Plots
25,26,28,29 Lynnwood Road – Katherine Street, Shere Agricultural Holdings with title deed numbers
T47836/95; T7413/2000; T64613/97; T7905/91 (“the Property”).
3. Rational for acquisition
The Acquisition is in line with Freedom’s strategy around Silver Park, with the Acquisition, being a well-
located property within a high growth area, which represents an attractive medium to long term
development investment that will enhance the overall quality and value of the portfolio.
4. Conditions Precedent
The Acquisition is subject to the condition precedent that the Purchaser successfully concluding the
necessary funding agreements with its own funders, within 30 (thirty) days.
5. Property Specific Information
Property AH Plots 25, 26, 28 & 29
Location Pretoria, Gauteng
Sector Mixed Use Commercial
GLA m² 38 950
Total Purchase Price R53 390 000
Valuation of Property R53 390 000
Notes
1) The cost of the property is considered to be its fair market value, as determined by the directors of the
Company. The directors of the Company are not independent and are not registered as professional
valuers or as professional associate valuers in terms of the Property Valuers Act, No 47 of 2000.
2) The costs associated with the Acquisition are estimated at R220 000.
3) The weighted average rent per m2 is not applicable as the Property is currently vacant land.
6. Forecast Financial Information Of The Acquisition
Due to the Property being vacant land to be used for development in the future, no forecast financial
information can be given until such a time that a decision regarding the development are taken.
7. Pro Forma Financial Effects Of the Acquisition
The pro forma effects of the Acquisition on the net asset value and net tangible asset value per linked unit
are not significant and have therefore not been disclosed.
8. Consideration for acquisition
The Purchase Price for the Acquisition is R53,390,000 (Fifty Three million Rand and three hundred and
ninety thousand Rand only) excluding VAT (the “Purchase Price”).
R13,650,000 (Thirteen million six hundred and fifty thousand Rand only) of the Purchase Price will be payable
in cash on the transfer date, (and the remainder of the Purchase Price, being R39,740,000 (Thirty nine million
seven hundred and forty thousand Rand only), will be payable in Freedom shares on the transfer date.
9. Warranties
The Seller has provided warranties to the Company that are standard to a transaction of this nature.
10. Categorisation
The Acquisition is a Category 2 transaction in terms of the JSE Limited Listings Requirements.
11. Withdrawal of Cautionary Announcement
The cautionary announcement released by Freedom on the 22th of July 2014, renewed on the 2nd of
September 2014, 15th of October 2014, 26th of November 2014 and 14th of January 2015 is hereby withdrawn
and it is no longer necessary for caution to be exercised when dealing in Freedom shares.
Johannesburg
5 February 2015
Sponsor Corporate Advisor
PSG Capital Base Capital
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