INVESTEC AUSTRALIA PROPERTY FUND - Extraordinary General Meeting Update

Extraordinary General Meeting Update

INVESTEC AUSTRALIA PROPERTY FUND
Established in Australia and registered with ASIC as a managed investment scheme (ARSN 162 067 736)
Operated by Investec Property Limited (ACN 071 514 246; AFSL 290 909) (“Responsible Entity”)
Registered as a foreign collective investment scheme in terms of the Collective Investment Schemes Control Act
No.45 of 2003
Unit code: IAP
ISIN: AU0000046005
(“IAP“ or the “Fund”)


EXTRAORDINARY GENERAL MEETING UPDATE


The Responsible Entity wishes to provide the following update in relation to the Fund’s extraordinary general
meeting, scheduled to be held on Tuesday, 31 March 2020 (“EGM”).

The EGM was originally convened to consider resolutions to enable the Fund to issue up to 10% of the number
of units on issue over a specified period and subject to certain other conditions set out in the notice of EGM
dated Friday, 28 February 2020 (“Capital Raising Resolutions”). While the Responsible Entity has no current
plans to raise capital, it had considered these resolutions beneficial to provide the Fund with flexibility in
managing its future capital requirements, including acquiring assets in line with its current growth strategy.

Given the current health and safety concerns, and increased market uncertainty arising from COVID 19, the
Responsible Entity has decided it is no longer practical to proceed with the Capital Raising Resolutions.
Accordingly, it is not intended that these resolutions will be proposed, or that any other substantive business will
be transacted at the EGM.

The Responsible Entity has also been advised that the Investec offices in Sydney and Johannesburg (where the
EGM was scheduled to be held) will be closed to members of the general public on the proposed EGM date.
Accordingly, the Responsible Entity wishes to advise unitholders not to attend the EGM as unitholders will not be
able to gain access to the relevant venue. In addition, there is no requirement for unitholders to submit proxy
votes on the Capital Raising Resolutions (to the extent they have not already done so), as the EGM is unlikely to
be held due to the above circumstances which are outside the Responsible Entity’s control.

In the unlikely event that the Investec’s offices in Sydney are accessible on the proposed EGM date (and
provided there are no government orders or directives preventing him from doing so), the Chairperson will
attempt to hold the EGM solely to enable procedural steps to be taken to cancel the EGM by way of indefinite
adjournment.

Once the position relating to COVID 19 becomes more certain, the Responsible Entity may propose similar
resolutions at a newly convened general meeting to refresh the Fund’s placement capacity and provide it with
additional flexibility to raise capital. Depending on the Fund’s circumstances at the time, these resolutions may
be proposed at the Fund’s next annual general meeting, when convened.

If there are any further developments in relation to the EGM, we will update unitholders by way of a further
market release and update on the Fund’s website at www.iapf.com.au.

This announcement has been authorised for release by the Company Secretary.



Johannesburg
25 March 2020

Investment Bank and Sponsor
Investec Bank Limited

Date: 25-03-2020 07:30:00
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