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REDEFINE PROPERTIES LIMITED - Issue By Redefine Of Eur 150 Million Secured Bonds Exchangeable Into Shares Of Redefine International Plc

Release Date: 06/09/2016 07:30
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Issue By Redefine Of Eur 150 Million Secured Bonds Exchangeable Into Shares Of Redefine International Plc

REDEFINE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/018591/06)
JSE share code: RDF ISIN: ZAE000190252
(Approved as a REIT by the JSE)
(“Redefine” or the “company”)


ISSUE BY REDEFINE OF EUR 150 MILLION SECURED BONDS EXCHANGEABLE INTO SHARES OF REDEFINE INTERNATIONAL PLC


Shareholders are advised that Redefine has successfully placed secured bonds (the “Bonds”) with a principal
amount of EUR 150 million, exchangeable into ordinary shares (the “RIPLC Shares”) of Redefine
International P.L.C. (“RIPLC”), the proceeds of which will be used to partially refinance debt raised by
Redefine on its acquisition of its shareholding in Echo Polska Properties N.V.

The Bonds will be issued with a coupon of 1.50%, payable semi-annually in arrear. The initial exchange
price of the Bonds will be set at an exchange premium of 26.25% to a reference price (the “Reference
Price”) determined as the euro-equivalent of the arithmetic average of the daily volume weighted average
prices of a RIPLC Share listed on the London Stock Exchange plc (the “LSE”) on each of the five scheduled
trading days commencing on (and including) 5 September 2016, such Reference Price being subject to a
floor of EUR 0.45673 and a cap of EUR 0.51902. The Reference Price, the initial exchange price and the
initial exchange ratio will be announced by Redefine on or around 9 September 2016. The Bonds will be
issued at 100% of their principal amount and, unless previously exchanged, redeemed, or repurchased and
cancelled, will be redeemed at par (subject to the Redefine’s settlement option referred to below) on 16
September 2021. Holders of the Bonds will have the option to require an early redemption of their Bonds on
the third anniversary of the issue date, at their principal amount, together with accrued interest.

Upon exchange Redefine will have the flexibility to settle in cash, deliver the underlying RIPLC Shares or
any combination thereof.

J.P. Morgan Securities plc acted as Sole Bookrunner on the transaction. Further details of the terms and
conditions of the Bonds are contained in the press releases available on Redefine’s website,
www.redefine.co.za.

6 September 2016

Sponsor
Java Capital

Date: 06/09/2016 07:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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