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Acquisition of Galeria Warminska
Rockcastle Global Real Estate Company Limited
(Incorporated in the Republic of Mauritius)
(Registration number 108869 C1/GBL)
JSE share code: ROC
SEM share code: ROCK.N0000
ISIN: MU0364N00003
(“Rockcastle”)
ACQUISITION OF GALERIA WARMINSKA
Shareholders are informed that Rockcastle has concluded a preliminary agreement to acquire Galeria Warminska shopping
centre in the city of Olsztyn in Poland (“Galeria Warminska”) from Libra Project 2 Spolka z ograniczona
odpowiedzialnoscia (“the transaction”).
Galeria Warminska opened in September 2014 and is the leading retail destination in a 135km radius offering 150 stores
with a gross lettable area of 42,711m2. It is a modern, third generation shopping mall providing a comprehensive retail and
entertainment offer over three levels served by a 1,200 bay structured car park. Currently, the shopping centre is fully let to
major international and national tenants such as CCC, H&M, New Yorker, Piotr & Pawel, Reserved, RTV Euro AGD, TK
Maxx and Zara. The retail offer is complemented with an extensive entertainment element comprising Multikino cinema,
Kinetic fitness, Warmiolandia kid’s play and a 1,300m2 food court and restaurant zone. It has an annual footfall of
approximately 8.2 million people making it the most popular centre in the region and its double digit growth in footfall and
turnover recorded last year will further strengthen its dominance.
Olsztyn is the largest city in north-eastern Poland with a population 175,000 people and is the capital city of the province
which is populated by 1.4 million inhabitants. Olsztyn has recently undergone a major infrastructure upgrade marked by the
introduction of the 11km tram line connecting it to Galeria Warminska as well as vast road and public infrastructure
redevelopment. It has one of the lowest unemployment rates in the country (5.9%) with a developed manufacturing sector,
including a Michelin tyre factory, and a university enrolling 35,000 students.
The purchase price is EUR150 million which represents an acquisition yield of 6.0% and will be settled from Rockcastle's
existing cash resources. The board of directors of Rockcastle are of the view that the value of Galeria Warminska is in line
with the purchase price. The transaction is subject to various conditions precedent usually associated with transactions of
this nature. The effective date of the transaction is anticipated to be before the end of January 2017.
The transaction is categorised as a category 2 transaction in terms of the JSE Listings Requirements and is considered as an
acquisition in the ordinary course of business of Rockcastle and will not trigger the provisions of Chapter 13 of the Stock
Exchange of Mauritius Limited (“SEM”) listing rules.
Rockcastle has primary listings on both the SEM and the main board of the JSE Limited.
By order of the board.
27 October 2016
For further information please contact:
Intercontinental Trust Limited
Company secretary +230 403 0800
Java Capital
JSE sponsor +27 11 722 3050
Perigeum Capital Ltd
SEM authorised representative and sponsor +230 402 0890
This notice is issued pursuant to the JSE Listings Requirements, SEM Listing Rule 11.3 and the Mauritian Securities Act
2005.
The board of directors of Rockcastle Global Real Estate Company Limited accepts full responsibility for the accuracy of the
information contained in this announcement.
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