LIBERTY TWO DEGREES - Acceptance of awards

Release Date: 17/08/2018 10:00
Code(s): L2D
 
Wrap Text
Acceptance of awards

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”)

ACCEPTANCE OF AWARD

Further to the circular to unitholders of Liberty Two Degrees (“Unitholders”) dated Monday,
30 July 2018 (“Circular”) relating to the Proposed Transactions (as defined in the Circular),
Unitholders are referred to paragraph 3.2 of the Circular in terms of which it was advised that
the Manager assumed the obligation to make delivery of 277 922 Liberty Two Degrees units
(“Units”) to the current Chief Executive Officer, Amelia Beattie, in lieu of prior awards relating
to her employment by STANLIB Asset Management before the establishment of the CISIP.

The obligation to make delivery in terms of those awards was assigned to Liberty Holdings
Limited and the cost thereof will not be borne by New L2D or 2 Degrees Properties Proprietary
Limited.

Unitholders are accordingly advised that further to the vesting of awards in line with the vesting
periods, Amelia Beattie has accepted a cash consideration payment in lieu of Units on the
terms set out below:

Date of transaction:                   17 August 2018
Number of Units:                       119 572
Price per Unit:                        R8.02
Value of transaction:                  R 958 967.44 (pre-taxation)
Extent of interest:                    Direct beneficial
Clearance to deal:                     Yes

Johannesburg
17 August 2018

Sponsor:
The Standard Bank of South Africa Limited

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