SA CORPORATE REAL ESTATE LIMITED - Results of rights offer - successful raising of R1.2 billion

Results of rights offer - successful raising of R1.2 billion

SA Corporate Real Estate Limited
(Incorporated in the Republic of South Africa)
(Registration number 2015/015578/06)
 Share Code: SAC
 ISIN: ZAE000203238
(“SA Corporate” or the “Company”)

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CANADA, JAPAN OR ANY OTHER JURISDICTION IN RESPECT OF WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE,
DIRECTLY OR INDIRECTLY, OF THIS ANNOUNCEMENT WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION OR IN RESPECT OF WHICH THE OFFERING CONTEMPLATED BY THIS ANNOUNCEMENT IS UNLAWFUL. THIS
ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO PURCHASE, OTHERWISE
ACQUIRE, SUBSCRIBE FOR, SELL, OTHERWISE DISPOSE OF OR PURCHASE ANY SECURITY IN ANY JURISDICTION.

RESULTS OF RIGHTS OFFER – SUCCESSFUL RAISING OF R1.2 BILLION

1.       Introduction

SA Corporate shareholders (“Shareholders”) are referred to the finalisation announcement released on the Stock
Exchange News Services (“SENS”) on Tuesday, 17 November 2015 and the circular to Shareholders that was
issued on Monday, 23 November 2015 relating to a rights offer to raise up to R1.2 billion (“rights offer”).

The rights offer consisted of an offer of 263,141,113 new SA Corporate ordinary shares (“rights offer shares”) in
the ratio of 13.00 rights offer shares for every 100 SA Corporate ordinary shares (“Shares”) held on the record
date of the rights offer, at a subscription price of 457 cents per rights offer share.

2.       Results of rights offer

The rights offer closed at 12:00 on Friday, 11 December 2015 and the results of the rights offer are as follows:

                                                             Number of rights offer             % of rights offer
                                                                             shares

 Rights offer shares available for subscription                         263,141,113                         100.0

 Subscriptions for rights offer shares                                  224,867,611                          85.5

 Applications for excess rights offer shares                            100,631,879                          38.2

 Total applications                                                     325 499 490                         123.7

 Excess rights offer shares available to be allocated                    38,273,502                          14.5

The excess applications applied for will be allocated equitably, taking cognisance of the number of Shares and
rights held by each Shareholder immediately prior to such allocation, including those taken up as a result of the
rights offer, and the number of excess Shares applied for by such Shareholder.

Following the conclusion of the rights offer, the Company’s total shares in issue will increase to 2,287,303,532
SA Corporate ordinary shares.

3.       Issue of rights offer shares

Share certificates will be posted to holders of certificated shares who have followed their rights today.
The CSDP or broker accounts of holders of dematerialised shares or their renouncees, who have followed their
rights, will be credited with the rights offer shares and debited with any payments due today.

Share certificates will be posted to holders of certificated shares, or their renouncees, who have been allocated
rights offer shares in terms of excess applications on or about Thursday, 17 December 2015.

The custody account of holders of dematerialised shares, or their renouncees, who have been allocated rights
offer shares in terms of excess applications, will be updated and their accounts at their CSDP or broker credited
on Thursday, 17 December 2015.

Cheques refunding monies in respect of unsuccessful excess applications in respect of certificated shareholders
will be posted to the relevant applicants, at their risk, on or about Thursday, 17 December 2015. No interest will
be paid on monies received in respect of unsuccessful applications.


Johannesburg
14 December 2015

Joint bookrunner, financial advisor and transaction sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)

Joint bookrunner, financial advisor and transaction sponsor
The Corporate Finance division of Investec Bank Limited

Legal adviser
Cliffe Dekker Hofmeyr Inc.

Sponsor
Nedbank Corporate and Investment Banking

Date: 14/12/2015 11:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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