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NEW EUROPE PROPERTY INVESTMENTS PLC - ROCKCASTLE /NEW EUROPE-Merger of NEPI and Rockcastle: Update on Rockcastle NAV

Release Date: 26/06/2017 17:05
Code(s): NEP ROC     PDF:  
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ROCKCASTLE /NEW EUROPE-Merger of NEPI and Rockcastle: Update on Rockcastle NAV

NEW EUROPE PROPERTY INVESTMENTS PLC                             ROCKCASTLE GLOBAL REAL ESTATE COMPANY LIMITED
Incorporated and registered in the Isle of Man with registered  Incorporated in the Republic of Mauritius                         
number 001211V                                                  Registration number: 108869 C1/GBL
Registered as an external company with limited liability under  JSE share code: ROC          
the laws of South Africa, registration number 2009/000025/10    SEM share code: ROCK.N0000                   
JSE share code: NEP BVB share code: NEP                         ISIN: MU0364N00003     
ISIN: IM00B23XCH02                                              (“Rockcastle”)
(“NEPI”)                                                   


MERGER OF NEPI AND ROCKCASTLE: UPDATE ON ROCKCASTLE NAV


NEPI and Rockcastle shareholders are referred to previous joint announcements relating to the intended merger of their businesses
in an entity newly-incorporated in the Isle of Man, NEPI Rockcastle plc (“NEPI Rockcastle”) (the “merger transaction”).

In order to aid shareholders in assessing the merger transaction on the basis of as up to date information as possible, shareholders
are advised that the net asset value per Rockcastle share as at 31 May 2017 was USD 1.69, up from USD 1.63 as at 31 March 2017.

As at 15 June 2017, the gross exposure of Rockcastle’s portfolio of listed securities (“listed security portfolio”), which forms part
of the assets to be transferred to NEPI Rockcastle pursuant to the merger transaction, was USD 1 311 382 021, with the top five
investment holdings by gross exposure as at that date as follows:

  Listed security portfolio as at 15 June 2017
        Security                                    Primary sector             Jurisdiction         Valuation as at 15 June 2017
                                                                                                                         USD’000
 1      Hammerson PLC                               Retail                     Great Britain                             221 168
 2      Simon Property Group                        Retail                     USA                                       141 555
 3      Unibail Rodamco                             Retail                     Europe                                    130 065
 4      Ventas Inc                                  Healthcare                 USA                                        70 766
 5      Prologis Inc                                Industrial                 USA                                        68 959
        Other                                                                                                            678 869
        Total gross exposure                                                                                           1 311 382
        Gearing                                                                                                        (485 986)
        Net listed security portfolio                                                                                    825 396
        Top 5 holdings as a percentage of gross listed security portfolio                                                 48.23%


As at 31 March 2017, the net listed security portfolio would constitute approximately 17.6% of the total net asset value of NEPI
Rockcastle.

NEPI is listed on the JSE and the Bucharest Stock Exchange. Rockcastle has its primary listings on both the JSE and the Stock
Exchange of Mauritius Ltd.

If you are a NEPI shareholder, for further information please contact:


 JSE sponsor
 Java Capital
 Andrew Brooking                                                               +27 11 722 3052

 Bucharest Stock Exchange advisor
 SSIF Intercapital Invest SA
 Razvan Pasol 
                                                                               +40 21 222 8731
If you are a Rockcastle shareholder, for further information please contact:

 JSE sponsor
 Java Capital
 Andrew Brooking                                                               +27 11 722 3052

 SEM authorised representative and sponsor
 Perigeum Capital Ltd                                                          +230 402 0890
 Shamin A. Sookia

26 June 2017

The board of directors of Rockcastle accepts full responsibility for the accuracy of the information contained in this announcement.


Corporate advisor to NEPI; JSE sponsor to          SEM authorised representative and
NEPI and Rockcastle                                sponsor to Rockcastle
Java Capital                                       Perigeum Capital
Date: 26/06/2017 05:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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