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Fully committed renounceable rights offer declaration announcement
HOSPITALITY PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/014211/06)
JSE share code: HPB
ISIN: ZAE000214656
(Approved as a REIT by the JSE)
(“Hospitality” or “the company”)
FULLY COMMITTED RENOUNCEABLE RIGHTS OFFER DECLARATION ANNOUNCEMENT
1. INTRODUCTION
Shareholders are referred to the announcement published on SENS on Thursday, 18 May 2017 (the
“Announcement”), regarding the acquisition by Hospitality of a portfolio of properties from Southern Sun Hotel
Properties Limited (“SSH”) (a wholly owned subsidiary of Tsogo Sun Holdings Limited), for an aggregate purchase
consideration of R3.5 billion (the “Acquisition”). The announcement advised shareholders that Hospitality would
undertake a renounceable rights offer to Hospitality shareholders to raise up to R1.8 billion.
The board of directors (the “Board”) has resolved to undertake a rights offer to raise R1.0 billion (the “rights offer”)
to fund the cash portion of the purchase consideration relating to the Acquisition. Following the Announcement the
Board has revised the rights offer quantum in order to mitigate the risk of cash drag on shareholders’ funds through
efficiently aligning the receipt of capital raise proceeds with the anticipated timing of deployment thereof.
2. SALIENT DATES AND TIMES
2017
Declaration date announcement in respect of the rights offer released on SENS Tuesday, 11 July
Declaration date announcement published in the press Wednesday, 12 July
Finalisation date announcement in respect of the rights offer released on SENS Thursday, 13 July
Finalisation date announcement published in the press Friday, 14 July
Last day to trade in Hospitality shares in order to participate in the rights offer Tuesday, 18 July
Rights offer circular published on the company’s website Tuesday, 18 July
Listing and trading of letters of allocation on the JSE under JSE code: “HPBN” and
ISIN: ZAE000243994 Wednesday, 19 July
Hospitality shares commence trading on the JSE ex-rights offer entitlement Wednesday, 19 July
Rights offer circular and form of instruction posted to certificated shareholders Thursday, 20 July
Record date for determination of shareholders entitled to participate in the rights offer
(initial record date) Friday, 21 July
Dematerialised shareholders will have their accounts at their CSDP or broker
automatically credited with their entitlement Monday, 24 July
Certificated shareholders on the register will have their entitlement credited to their
accounts held with the transfer secretaries Monday, 24 July
Rights offer opens at 09:00 Monday, 24 July
Rights offer circular posted to dematerialised shareholders who have elected to receive
documents in hard copy Tuesday, 25 July
Last day to trade letters of allocation on the JSE Tuesday, 1 August
In respect of qualifying certificated shareholders wishing to sell all or some of their
letters of allocation, Forms of instruction to be lodged with the transfer secretaries by
12:00 on Tuesday, 1 August
Rights offer shares listed and trading therein commences at 09:00 on the JSE Wednesday, 2 August
Rights offer closes at 12:00 Friday, 4 August
In respect of certificated shareholders wishing to exercise all or some
of their rights, payment to be made and forms of instruction to be lodged with
transfer secretaries by 12:00 on Friday, 4 August
Record date for letters of allocation (final record date) Friday, 4 August
New Hospitality shares issued Monday, 7 August
Dematerialised shareholders’ accounts updated and debited by CSDP or broker (in
respect of entitlements to rights offer shares) Monday, 7 August
Certificates posted to certificated shareholders (in respect of the rights offer shares) Monday, 7 August
Results of rights offer announced on SENS Monday, 7 August
Results of rights offer announced in the press Tuesday, 8 August
Refunds (if any) to certificated shareholders in respect of unsuccessful excess share
applications made Thursday, 10 August
Dematerialised shareholders’ accounts updated and debited by their CSDP or broker
(in respect of successful excess share applications) Thursday, 10 August
Notes:
1. All references to dates and times are to local dates and times in South Africa.
2. Dematerialised shareholders are required to inform their CSDP or broker of their instructions in terms of the
rights offer
in the manner and time stipulated in the agreement governing the relationship between the shareholder and its CSDP
or broker.
3. Share certificates may not be dematerialised or rematerialised between Wednesday, 19 July 2017 and Friday, 21 July
2017, both days inclusive.
4. Dematerialised shareholders will have their accounts at their CSDP or broker automatically credited with their rights
and certificated shareholders will have their rights credited to their accounts at Computershare.
5. CSDPs effect payment in respect of dematerialised shareholders on a delivery-versus-payment method.
3. CONDITIONS PRECEDENT
The implementation of the rights offer is subject to the JSE granting a listing of the letters of allocation and the
rights offer shares.
4. RIGHTS OFFER CIRCULAR
Further details of the rights offer will be set out in the circular to Hospitality shareholders which is expected to be
posted to certificated shareholders on Thursday, 20 July and to dematerialised shareholders who have elected to
receive documentation in hard copy on Tuesday, 25 July and will be made available on the company’s website
(www.hpf.co.za) on 18 July 2017.
11 July 2017
Corporate advisor and sponsor
Java Capital
Date: 11/07/2017 12:00:00 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.
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