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LIBERTY TWO DEGREES - Update relating to finalisation information

Release Date: 21/09/2018 07:41
Code(s): L2D     PDF:  
Wrap Text
Update relating to finalisation information

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)
(the “Manager”)

LIBERTY TWO DEGREES LIMITED
(Registration number: 2018/388906/06)
JSE share code: L2D
ISIN: ZAE000260576
(“New L2D”)



                           UPDATE RELATING TO FINALISATION INFORMATION


Unitholders are referred to the Circular posted to Unitholders on Monday, 30 July 2018, as supplemented by
the Supplementary Information published on SENS on Monday, 6 August 2018 in relation to the Proposed
Transactions including the Conversion of the CISIP to a Corporate REIT in the form of New L2D, and the
announcement made by the CISIP on Monday, 17 September 2018 in which it was noted that certain
conditions precedent relating to the Proposed Transactions remained outstanding at that time.

Although a number of conditions precedent to the Proposed Transactions have been fulfilled, the Board hereby
advises Unitholders that certain conditions precedent are still in the process of being fulfilled and remain
outstanding currently. Accordingly, the important dates and times as disclosed in the Circular are being
amended to allow such conditions precedent to be fulfilled.

The Board remains confident that the outstanding conditions precedent will be fulfilled in due course.

The Transaction Documents provide for the Final CISIP Distribution to include all qualifying distributable
income accruing to the CISIP for the period from 1 July 2018 to the end of the month in which the conditions
precedent are fulfilled and for the Proposed Transactions to become effective and be implemented at the
beginning of the following month. Accordingly, subject to the fulfilment of the outstanding conditions precedent,
the revised important dates and times are set out below:


                                                                                                          2018
   Finalisation information in respect of the Final CISIP Distribution released             Friday, 19 October
   on SENS
   Last day to trade to be recorded in the CISIP register in order to be                    Friday, 26 October
   eligible to receive the Final CISIP Distribution
   Last day to trade to be recorded in the CISIP register in order to be                    Friday, 26 October
   eligible to receive New L2D Shares on the Effective Date
   Ex-dividend date in respect of the Final CISIP Distribution                            Monday, 29 October
   Units suspended from trading                                                           Monday, 29 October
   Commencement of trading in New L2D Share Entitlements                                  Monday, 29 October
   Record date in order to be eligible to receive the Final CISIP Distribution        Wednesday, 31 October
   and to be eligible to receive New L2D shares
   Effective Date                                                                      Thursday, 1 November
   Trading in New L2D Shares with the JSE share code: L2D and ISIN:                    Thursday, 1 November
   ZAE000260576 commences
   New L2D shares issued to Unitholders pursuant to the Proposed                               Thursday, 1 November
   Transactions
   Accounts at CSDP or broker updated in respect of dematerialised                             Thursday, 1 November
   Shareholders
   Delisting of Units from the JSE                                                                Friday, 2 November
   Payment of Final CISIP Distribution                                                     Wednesday, 14 November

Note: Share certificates in the CISIP may not dematerialized or rematerialsed after Friday, 26 October 2018.

Capitalised terms used in this announcement bear the same meaning as the capitalised and defined terms
used in the Circular.


Johannesburg
21 September 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: 21/09/2018 07:41:00 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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