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Rights offer results announcement
INVESTEC AUSTRALIA PROPERTY FUND
Incorporated and registered in Australia in terms of ASIC (ARSN 162 067 736)
Registered as a foreign collective investment scheme in terms of the Collective Investment Schemes Control Act No.
45 of 2003 and operated by Investec Property Limited (ACN 071 514 246; AFSL 290 909) (“Responsible Entity”)
Share code: IAP
ISIN: AU60INL00018
(“IAPF” or “the Fund”)
RIGHTS OFFER RESULTS ANNOUNCEMENT
1. Introduction
Unitholders are referred to the declaration announcement released on the Stock Exchange News Service
(“SENS”) on Friday, 22 January 2016 (“Declaration Announcement”), as well as the circular to unitholders dated
Monday, 1 February 2016, relating to a partially underwritten rights offer to raise approximately ZAR 690,000,000
(AUD 60 million at a ZAR:AUD exchange rate of R11.50) through an offer to unitholders of 59,566,747 new units
(“Rights Offer Units”) in the ratio of 23.54653 Rights Offer Units for every 100 units held on the rights offer record
date, being Friday, 5 February 2016 (“Initial Record Date”), at an issue price of R11.58 per Rights Offer Unit
(“Rights Offer”).
The Rights Offer closed on Friday, 19 February 2016 and the Responsible Entity is pleased to advise that the
Rights Offer was completed successfully and oversubscribed.
2. Results of the Rights Offer
The results of the Rights Offer are set out below:
Number of
Rights Offer % of Rights
Units Offer Units
Rights Offer Units available for subscription 59,566,747 100%
Subscription for Rights Offer Units 58,427,456 98%
Excess Rights Offer Units available for allocation (“Excess Units”) 1,139,291 2%
Applications for excess Rights Offer Units received 5,958,941 10%
Excess Rights Offer Units allocated to Investec Property Fund Limited
(“Underwriter”) (excluding their pro rata entitlement) 1,139,291 2%
3. Allocation of excess applications
As stated in the Declaration Announcement, the Underwriter has the right to take up the Excess Units. The
Underwriter has confirmed that it will be taking up the Excess Units, and therefore no Excess Units are available
for allocation to other applicants.
4. Issue of Rights Offer Units
Dematerialised unitholders who subscribed for Rights Offer Units will have their accounts at their CSDP or broker
debited and updated with the Rights Offer Units to which they are entitled on Monday, 22 February 2016.
Certificated unitholders who subscribed for Rights Offer Units will have their new unit certificates in respect of the
Rights Offer Units to which they are entitled posted to them at their own risk on Monday, 22 February 2016.
The refund payments in respect of unsuccessful applications for Excess Units by certificated unitholders will be
made on or about Wednesday, 24 February 2016 in accordance with the instructions on the form of instruction
and at the applicants’ own risk.
No interest will be paid on monies received in respect of unsuccessful applications for Excess Units.
Sydney
22 February 2016
Corporate Advisor and Sponsor
Investec Bank Limited
Legal Advisor (Australia)
Herbert Smith Freehills
Legal Advisor (South Africa)
Fluxmans Inc.
Date: 22/02/2016 03:20:00 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.
