ASCENSION PROPERTIES LIMITED - Withdrawal of cautionary announcements

Release Date: 22/03/2017 17:24
Code(s): AIA
 
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Withdrawal of cautionary announcements

ASCENSION PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/026141/06)
JSE share code: AIA  ISIN: ZAE000204566
(Approved as a REIT by the JSE)
(“Ascension” or “the company”)


WITHDRAWAL OF CAUTIONARY ANNOUNCEMENTS

Shareholders are referred to the cautionary announcements released on SENS in respect of the proposed relisting of the
Ascension B shares and the proposed acquisition, the last of which was released on SENS on 9 February 2017 as well as
the announcement released on SENS on 16 March 2017, advising shareholders that the scheme of arrangement between
Ascension and Ascension A shareholders in terms of which Rebosis Property Fund Limited (“Rebosis”) will acquire all
of the Ascension A ordinary shares (the “A share scheme”) was approved by Ascension shareholders.

Whilst the A share scheme still remains subject to the fulfilment of certain suspensive conditions, Ascension and
Rebosis intend to proceed with the A share scheme upon fulfilment of these suspensive conditions. It is anticipated that
the A share scheme will be implemented during April 2017.

Whilst negotiations for the acquisition of a property letting enterprise (together with the property situated at 66 Jorrisen
Street, Johannesburg) from Mutodo Properties Proprietary Limited (the “66 Jorrisen Street acquisition”) are well-
advanced, the 66 Jorissen Street acquisition would still be subject to the fulfilment of certain suspensive conditions prior
to the implementation of the A share scheme. Ascension has resolved not to proceed with the 66 Jorissen Street
acquisition at this time to ensure that the implementation of the A share scheme is not delayed.

Accordingly, following the release of this announcement, caution is no longer required by Ascension A shareholders
when dealing in the company’s securities.

22 March 2017


Sponsor
Java Capital

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