Wrap Text
Posting Of Circular
LIBERTY TWO DEGREES
JSE share code: L2D
ISIN: ZAE000230553
(Approved as a REIT by the JSE)
(“CISIP”)
a portfolio established under the Liberty Two Degrees Scheme, a collective investment scheme in
property established in terms of the Collective Investment Schemes Control Act, No 45 of 2002, as
amended (“CISCA”), and managed by STANLIB REIT Fund Managers (RF) Proprietary Limited
(Registration number: 2007/029492/07) (“SRFM” or the “Manager”)
LIBERTY TWO DEGREES LIMITED
Registration number: (2018/388906/06)
JSE share code: L2D
ISIN: ZAE000260576
(“New L2D””)
POSTING OF CIRCULAR
Unitholders of the CISIP (“Unitholders”) are referred to the announcement released on the Stock
Exchange News Service (“SENS”) of the JSE Limited (“JSE”) on Monday, 23 July 2018, regarding:
• the conversion of the CISIP to a Corporate REIT, pursuant to which each Unitholder will receive
one ordinary share in New L2D (“Share”) for every existing participatory interest in the CISIP
(“Unit”) held and New L2D will be listed in place of the CISIP, which will be de-listed and
voluntarily wound up (the “Conversion”);
• the internalisation of the management company of the CISIP (the “Internalisation”), being a
related party transaction;
• the related party acquisition of undivided shares in properties (the “Additional Properties”) from
Liberty Group Limited (“LGL”) (the “Acquisition”); and
• the cancellation of the LGL put option (the “Put Option”),
(collectively, the “Proposed Transactions”).
Unitholders are advised that the circular to Unitholders (“Circular”) setting out the salient terms of the
Proposed Transactions has been made available at www.liberty2degrees.co.za/investor-information
and will be posted to Unitholders today.
A reminder of the remaining salient dates and times in relation to the Proposed Transaction are set
out below:
2018
Circular posted to Unitholders and made available at Friday, 27 July
www.liberty2degrees.co.za/investor-information
Last day to trade to be recorded in the CISIP register in order to be Tuesday, 21 August
eligible to vote at the General Meeting
Record date in order to be eligible to participate in and vote at the Friday, 24 August
General Meeting
Latest date of receipt of forms of proxies in respect of the General Monday, 27 August
Meeting by 12:00
General Meeting to be held at 12:00 at Standard Bank, 30 Baker Tuesday, 28 August
Street, Rosebank
Results of General Meeting in respect of the Proposed Tuesday, 28 August
Transactions released on SENS
Results of General Meeting in respect of the Proposed Wednesday, 29 August
Transactions published in the press
Finalisation information in respect of the Final CISIP Distribution Monday, 17 September
released on SENS
Last day to trade to be recorded in the CISIP register in order to be Tuesday, 25 September
eligible to receive the Final CISIP Distribution
Last day to trade to be recorded in the CISIP register in order to be Tuesday, 25 September
eligible to receive New L2D Shares on the Effective Date
Ex-dividend date in respect of the Final CISIP Distribution Wednesday, 26 September
Units suspended from trading Wednesday, 26 September
Listing and commencement of trading in New L2D Share Wednesday, 26 September
Entitlements with the JSE share code: L2D and ISIN:
ZAE000260576
Record date in order to be eligible to receive the Final CISIP Friday, 28 September
Distribution
Effective Date Monday, 1 October
New L2D shares issued to Unitholders pursuant to the Proposed Monday, 1 October
Transactions
Accounts at CSDP or broker updated in respect of dematerialised Monday, 1 October
Shareholders
Delisting of Units from the JSE of the CISIP Tuesday, 2 October
Payment of Final CISIP Distribution Friday, 12 October
Notes:
1. Defined terms used as defined in the Circular.
2. All references to dates and times are to local dates and times in South Africa. These dates and times are subject
to amendment. Any such amendment will be released on SENS and in the press.
3. If the Proposed Transactions become unconditional, Units may not be traded after Thursday, 27 September 2018.
Johannesburg
30 July 2018
Financial Advisor and Transaction Sponsor
The Standard Bank of South Africa Limited
Independent sponsor
Questco Corporate Advisory Proprietary Limited
Investor Relations
Gareth Rees
Contact number: 011 448 6804
Date: 30/07/2018 03:18:00 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.