ASCENSION PROPERTIES LIMITED - Withdrawal of cautionary announcements

Release Date: 22/03/2017 17:24
Code(s): AIA
Wrap Text
Withdrawal of cautionary announcements

(Incorporated in the Republic of South Africa)
(Registration number 2006/026141/06)
JSE share code: AIA  ISIN: ZAE000204566
(Approved as a REIT by the JSE)
(“Ascension” or “the company”)


Shareholders are referred to the cautionary announcements released on SENS in respect of the proposed relisting of the
Ascension B shares and the proposed acquisition, the last of which was released on SENS on 9 February 2017 as well as
the announcement released on SENS on 16 March 2017, advising shareholders that the scheme of arrangement between
Ascension and Ascension A shareholders in terms of which Rebosis Property Fund Limited (“Rebosis”) will acquire all
of the Ascension A ordinary shares (the “A share scheme”) was approved by Ascension shareholders.

Whilst the A share scheme still remains subject to the fulfilment of certain suspensive conditions, Ascension and
Rebosis intend to proceed with the A share scheme upon fulfilment of these suspensive conditions. It is anticipated that
the A share scheme will be implemented during April 2017.

Whilst negotiations for the acquisition of a property letting enterprise (together with the property situated at 66 Jorrisen
Street, Johannesburg) from Mutodo Properties Proprietary Limited (the “66 Jorrisen Street acquisition”) are well-
advanced, the 66 Jorissen Street acquisition would still be subject to the fulfilment of certain suspensive conditions prior
to the implementation of the A share scheme. Ascension has resolved not to proceed with the 66 Jorissen Street
acquisition at this time to ensure that the implementation of the A share scheme is not delayed.

Accordingly, following the release of this announcement, caution is no longer required by Ascension A shareholders
when dealing in the company’s securities.

22 March 2017

Java Capital

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