EMIRA PROPERTY FUND LIMITED - Dealing in securities by an associate of a director

Dealing in securities by an associate of a director

Emira Property Fund Limited
(Incorporated in the Republic of South Africa)
Registration number: 2014/130842/06
Share code: EMI ISIN: ZAE000203063
(“Emira”)
(Approved as a REIT by the JSE)

DEALING IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR

Business Venture Inv No 1228 Proprietary Limited (“BVI”) has disposed of shares held in
Emira. Benedict van der Ross, Emira’s non-executive chairman, is a director and indirect
shareholder of BVI. BVI participated in an Emira B-BBEE investment program that was
funded by Makalani Holdings Limited (“Makalani”). The debt funding has reached its maturity
and in order to settle the amount outstanding to Makalani, BVI has been required to dispose
of 680,538 shares held in Emira.

In compliance with the JSE Limited Listings Requirements, the following information is
disclosed:


Director                                         :   Benedict van der Ross, who is a director and indirect
                                                     shareholder of Business Venture Inv No 1228 Proprietary
                                                     Limited
Associate                                        :   Business Venture Inv No 1228 Proprietary Limited
Nature of transaction                            :   On market disposal of securities by an associate
Company                                          :   Emira
Class of securities                              :   Ordinary shares
Date of transaction                              :   7 September 2016 (1)
                                                     8 September 2016 (2)
                                                     9 September 2016 (3)
Number of securities                             :   234,156 (1)
                                                     98,089 (2)
                                                     348,293 (3)
Sale price                                       :   R13.6972 (1)
                                                     R13.5400 (2)
                                                     R13.7519 (3)
Total value of transaction                       :   R3,207,281.56 (1)
                                                     R1,328,125.06 (2)
                                                     R4,789,690.51 (3)
Highest price                                    :   R13.8700 (1)
                                                     R13.6300 (2)
                                                     R13.8900 (3)
Lowest price                                     :   R13.5400 (1)
                                                     R13.5000 (2)
                                                     R13.5600 (3)
Nature of interest                               :   Dealings by an associate


Bryanston
13 September 2016

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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