ASCENSION PROPERTIES LIMITED - Declaration of a special distribution to Ascension B shareholders and distribution to Ascension A shareholders

Release Date: 23/07/2015 11:35
Code(s): AIB AIA
 
Wrap Text
Declaration of a special distribution to Ascension B shareholders and distribution to Ascension A shareholders

ASCENSION PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/026141/06)
JSE share codes: AIA   ISIN: ZAE000204566
                 AIB   ISIN: ZAE000204574
(Approved as a REIT by the JSE)
(“Ascension” or “the company”)


DECLARATION OF A SPECIAL DISTRIBUTION TO ASCENSION B SHAREHOLDERS AND DISTRIBUTION TO ASCENSION A SHAREHOLDERS


1.    Introduction

      The directors of Ascension have resolved to declare a distribution of distributable earnings of Ascension for the
      six months ended 30 June 2015 (the “Ascension B share distribution”) to Ascension B shareholders that are
      recorded as such on Friday, 14 August 2015, pursuant to the proposed acquisition by Rebosis Property Fund
      Limited (“Rebosis”) of the entire issued B linked unit capital of Ascension that it does not already own by way
      of a scheme of arrangement (“B scheme”) in terms of section 114 of the Companies Act, 71 of 2008 (the
      “Companies Act”). The B scheme was approved by the requisite majority of Ascension B debenture holders
      and B shareholders, respectively.

      The directors of Ascension have also resolved to declare a distribution of distributable earnings of Ascension
      for the six months ended 30 June 2015 to Ascension A shareholders that are recorded in the register on Friday,
      28 August 2015 (the “Ascension A share distribution”). The Ascension A share distribution and the
      Ascension B share distribution are collectively referred to as the “distributions”.

      The estimated amounts of the distributions per Ascension A share and Ascension B share, respectively, for the
      six months ended 30 June 2015 will be announced on SENS on Thursday, 30 July 2015.

      The final amounts of the distributions per Ascension A share and Ascension B share, respectively, for the six
      months ended 30 June 2015 will be announced on SENS by Thursday, 13 August 2015.

      It is expected that Ascension’s results for the year ended 30 June 2015 will be released on SENS on Monday,
      17 August 2015.

2.    Salient dates

      The salient dates relating to the Ascension B share distribution and the Ascension A share distribution are set
      out below.

                                                                                                            2015
      Declaration date announcement in respect of the Ascension B share distribution and the
      Ascension A share distribution released on SENS                                          Thursday, 23 July
      Finalisation date announcement in respect of the Ascension B share distribution
      (including the estimated amount of the Ascension B share distribution) and the
      Ascension A share distribution (including the estimated amount of the Ascension A
      share distribution) released on SENS                                                     Thursday, 30 July
      Last day to trade in Ascension B shares in order to receive the Ascension B share
      distribution                                                                            Thursday, 6 August
      Ascension B shares trade ‘ex’ the entitlement to receive the Ascension B share
      distribution                                                                              Friday, 7 August
      Final amount of the Ascension A share distribution and the Ascension B share
      distribution to be announced on SENS by                                                Thursday, 13 August
      Record date for receipt of the Ascension B share distribution                            Friday, 14 August
      Ascension’s results for the year ended 30 June 2015 expected to be released on SENS on   Monday, 17 August
      Last day to trade in Ascension A shares in order to receive the Ascension A share
      distribution                                                                             Friday, 21 August
      Ascension A shares trade ‘ex’ the entitlement to receive the Ascension A share
      distribution                                                                             Monday, 24 August
      Record date for receipt of the Ascension A share distribution                            Friday, 28 August
      Ascension B share distribution expected to be paid to Ascension B shareholders who
      were recorded in the register on the record date for receipt of the Ascension B share
      distribution                                                                              Monday, 31August
      Ascension A share distribution expected to be paid to Ascension A shareholders who
      were recorded in the register on the record date for receipt of the Ascension A share
      distribution                                                                             Monday, 31 August

     Notes
     1. All times given are local times in South Africa.
     2. The dates and times set out above are subject to change. Any such change will be
        released on SENS.
     3. No dematerialisation or rematerialisation of Ascension B shares may take place between 
        Friday, 7 August 2015 and Friday, 14 August 2015, both days inclusive.
     4. No dematerialisation or rematerialisation of Ascension A shares may take place between 
        Monday, 24 August 2015 and Friday, 28 August 2015, both days inclusive.

23 July 2015

Corporate advisor and sponsor                            
Java Capital


Legal advisor to the transaction
DLA Cliffe Dekker Hofmeyr
Date: 23/07/2015 11:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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