Sharenet Sites 
Sharenet Sites
Disposal Of Steelport Industrial Park (Erf No 1196)
Freedom Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2012/129186/06)
Share code: FDP
ISIN: ZAE000185260
(“Freedom” or the “Company”)
DISPOSAL OF STEELPORT INDUSTRIAL PARK (ERF NO 1196)
1. INTRODUCTION
Shareholders are advised that Freedom has accepted a valid and binding offer (“Offer”) to dispose
of a portion of ERF No 1196 (the “Property”) at Steelport Industrial Park in terms of which the
Provest Group (Pty) Limited (the “Purchaser”) will acquire the Property for a total consideration of
R5, 000, 000 (five million Rand) in cash (“Cash Consideration”) (the “Disposal”).
2. RATIONALE FOR THE DISPOSAL
The disposal is in line with Freedom’s strategy of divesting of non-core assets as set out in an
announcement released on the Securities Exchange News Service (“SENS”) of JSE Limited (the “JSE”)
on 15 March 2016 (the “Announcement”). The proceeds will be applied within the Company in
accordance with the details set out in the Announcement.
3. MATERIAL TERMS OF THE OFFER
3.1. Details of the Property
A portion of Erf 1196 as indicated in the Offer. The size of the property, subject to subdivision, is
0,92H.
3.2. Offer Terms
The Offer is subject to Freedom:
- making available at least 70kva of power as well as the right to drill for water on the
Property;
- closing off the area next to the palisades next to the Macsteel Building not exceeding 6
meters from the Macsteel building and to install a second gate at the discretion of the
Purchaser; and
- the subdivision of the Property for registration to the Purchaser.
Freedom has agreed to the above terms.
The Consideration will be received as follows: a deposit of R1, 000, 000 (one million Rand) receivable
in September 2017, with the balance due and payable by the Purchaser on transfer of the Property,
and subject to the sub-division referred to above.
3.3. Effective Date
The effective date of the Disposal is 29 August 2017, this being the date of signature of the Offer.
3.4. Other
Pursuant to the above, the Company and the Purchaser will further enter into a formal sale
agreement typical to a transaction of this nature.
4. VALUE AND PROFITS ATTRIBUTABLE TO THE PROPERTY
The value of the Property, effective as of 28 February 2015, and as determined by an external valuer
to the Company, Mr JS Bosman (M.I.V) (SA), is as set out below:
Erf 1196
Title deed number: T35998/2011
Location: Steelpoort Ext 10, Greater Tubatse Local Municipality, Limpopo
Sector: Industrial
Original purchase price: R2 316 820
Valuation (2015): R4 901 344 (however, currently under review, which details are set out in the SENS
announcement dated 17 August 2017)
Gross lettable area: N/A
Weighted average rental per square meter: N/A
Gross rental income per month: N/A
Erf 1196 is presently zoned as private open space with a total extent of 1.7624Ha and hence is held
for development and is not subject to a lease. No costs were contributed to the Company’s earnings
for the year ended 28 February 2015.
5. CATEGORISATION
Due to its relative size to the market capitalisation of Freedom, the Disposal is deemed to constitute
a Category 2 transaction under the JSE Listings Requirements.
Johannesburg
29 August 2017
Sponsor and corporate advisor
Bravura Capital Proprietary Limited
Date: 29/08/2017 04:55:00 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.
