INDLUPLACE PROPERTIES LIMITED - Acquisition of Various Portfolios of Residential Properties: Posting of Circular and Notice of General Meeting

Acquisition of Various Portfolios of Residential Properties: Posting of Circular and Notice of General Meeting

INDLUPLACE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/226082/06)
JSE share code: ILU ISIN: ZAE000201125
(Approved as a REIT by the JSE)
(“Indluplace” or “the Company”)


ACQUISITION OF VARIOUS PORTFOLIOS OF RESIDENTIAL PROPERTIES: POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING


Indluplace shareholders are referred to the terms announcement released on 20 June 2017 (the “terms
announcement”) which advised shareholders that Indluplace and its wholly owned subsidiary Friedshelf
1781 Proprietary Limited had concluded agreements with multiple vendors, some of whom were members
of or affiliated to the Buffet group of entities, to in effect acquire, through a variety of transaction
mechanisms, three residential property portfolios, for an effective transaction consideration of
approximately R1.4 billion (“the proposed transactions”).

Indluplace shareholders are advised that the Company has today, 29 August 2017, posted a circular to
Indluplace shareholders (the “circular”), containing full details of the proposed transactions and
incorporating a notice of general meeting. The circular is available in electronic format on the Company’s
website at www.indluplace.co.za.

Indluplace shareholders are further advised that the forecast financial information contained in the terms
announcement differ to those as set out in the circular. The revised assumptions and explanations thereto are
as follows –

1.   The capital structure of the proposed transaction has been revised to reflect a 60:40 debt to equity ratio
     in order to better align with the Company’s long-term optimal gearing.

2.   The forecast financial information included in the circular is for the periods ending 30 September 2018
     and 30 September 2019 instead of the periods ending 30 September 2017 and 30 September 2018. The
     general meeting to approve the proposed transactions is set to take place on Wednesday,
     27 September 2017, which is later than anticipated in the terms announcement. The effective date of the
     proposed transaction is the first day of the month following the fulfilment of all conditions precedent.
     The effective date of the proposed transaction is anticipated to be 1 October 2017.

A general meeting of Indluplace shareholders will be held at 1 Sturdee Avenue, Rosebank, 2196 at 10:00 on
Wednesday, 27 September 2017 to consider and, if deemed fit, pass, with or without modification, the
resolutions necessary to implement the proposed transactions.

SALIENT DATES AND TIMES

                                                                                                       2017
 Record date to be entitled to receive this circular                                      Friday, 18 August

 Circular posted to Indluplace shareholders on                                           Tuesday, 29 August

 Announcement of posting of circular and notice of general meeting on
 SENS on                                                                                 Tuesday, 29 August

 Announcement of posting of circular and notice of general meeting in the
 press on                                                                              Wednesday, 30 August

 Last day to trade in order to attend and vote at the general meeting                 Tuesday, 19 September

 Record date in order to be eligible to attend and vote at the general meeting         Friday, 22 September

 Receipt of forms of proxy in respect of the general meeting of Indluplace
 shareholders by 10:00 on                                                             Tuesday, 26 September

 The general meeting to be held at 10:00 on                                         Wednesday, 27 September

 Results of the general meeting and finalisation announcement released on
 SENS on                                                                            Wednesday, 27 September

 Results of the general meeting and finalisation announcement published in
 the press on                                                                        Thursday, 28 September


 Notes:
 1.  All dates and times in this announcement are local dates and times in South Africa and are subject to
     change. Any changes will be released on SENS and published in the press.
 2.  Indluplace shareholders are referred to page 4 of the circular for information on the action required to
     be taken by them.

29 August 2017


Corporate advisor and sponsor to Indluplace
Java Capital

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