Finalisation announcement and salient dates for the conversion of Vukile’s linked unit capital structure 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” or “the company”) FINALISATION ANNOUNCEMENT AND SALIENT DATES FOR THE CONVERSION OF VUKILE’S LINKED UNIT CAPITAL STRUCTURE Linked unitholders are referred to the announcement released on SENS on 19 December 2014 wherein the salient dates and times in respect of - the conversion of Vukile’s authorised and issued ordinary par value shares to authorised and issued shares of no par value; - subsequent to the par value conversion, the conversion of the company’s current linked unit capital structure to an all share structure to be effected by way of a scheme of arrangement in terms of section 114 of the Companies Act, 71 of 2008 (the “scheme”); - the amendment of Vukile’s Memorandum of Incorporation to give effect to the change in Vukile’s capital structure and the provisions of the Companies Act, 71 of 2008, and the JSE Listings Requirements in respect of the approval of written resolutions by shareholders; - the amendment of Vukile’s Debenture Trust Deed to enable the change in Vukile’s capital structure; and - the subsequent termination of Vukile’s Debenture Trust Deed. (collectively the “transactions”) were announced, as well as the announcement released on SENS on 21 January 2015 wherein linked unitholders were advised that all resolutions required to approve the transactions were passed by the requisite majority of Vukile debenture holders and shareholders respectively. The special resolutions in respect of the transactions, together with all prescribed documents, have been registered by the Companies and Intellectual Property Commission. The Takeover Regulation Panel has issued a compliance certificate in terms of section 119(4) of the Companies Act, 71 of 2008, with the result that the transactions have now become unconditional in accordance with their terms. Accordingly the transactions will be implemented in accordance with the timetable set out below. 2015 Finalisation date announcement expected to be published in the press on Monday, 16 March Last day to trade in existing linked units on the JSE prior to the delinking of the linked units and the Friday, 20 March capitalisation of the debentures on Trading in delinked ordinary shares of no par value under the new ISIN: ZAE000180865 and the Monday, 23 March existing code of “VKE” commences on Suspension of listing of linked units on the JSE Monday, 23 March Scheme implementation record date for the delinking of the linked units and the capitalisation of the Friday, 27 March debentures at the close of business on Scheme operative date Monday, 30 March Date dematerialised shareholders will have their accounts updated at their CSDP or broker on Monday, 30 March Date of issue of new replacement share certificates provided that the old linked unit certificates have Monday, 30 March been surrendered by 12:00 on Friday, 27 March 2015 (any certificated linked units surrendered after this date will be replaced within 5 business days after receipt by the transfer secretaries) Termination of listing of linked units Monday, 30 March Notes: 1. All times given in this finalisation announcement are local times in South Africa. 2. No dematerialisation of linked unit certificates may take place after Friday, 20 March 2015. 13 March 2015 Corporate advisor, legal advisor and JSE sponsor NSX sponsor Java Capital IJG Securities (Pty) Ltd Date: 13/03/2015 11:00:00 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.