ARROWHEAD PROPERTIES LIMITED - Further cautionary announcement

Further cautionary announcement

ARROWHEAD PROPERTIES LIMITED                              GEMGROW PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)            (Incorporated in the Republic of South Africa)
(Registration number 2011/000308/06)                      (Registration number 2007/032604/06)
JSE share code: AWA ISIN: ZAE000203105                    JSE share code: GPA ISIN: ZAE0000223269
 (Approved as a REIT by the JSE)                          JSE share code: GPB ISIN: ZAE0000223277
(“Arrowhead”)                                             (Approved as a REIT by the JSE)
                                                          ("Gemgrow" or “the company”)




FURTHER CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the joint cautionary announcement released on SENS on 10 April 2019,
wherein Arrowhead and Gemgrow (the “Parties”) advised that their respective boards of directors have, in
principle, agreed to a potential transaction which may result in the reverse takeover of Gemgrow by
Arrowhead (the “Merger”).

Shareholders are advised that the Parties are in the process of finalising transaction agreements and
accordingly, shareholders are advised to continue exercising caution when dealing in their respective
shares until a further announcement in respect of the Merger has been made.

28 May 2019


Corporate advisor and sponsor to Arrowhead
Investec Bank Limited

Independent corporate advisor and transaction sponsor to Gemgrow
Nedbank Corporate and Investment Banking

Corporate advisor to Gemgrow
Investec Bank Limited

Strategic transaction advisor to Arrowhead
Ferryman Capital Partners

Legal advisor
Cliffe Dekker Hofmeyr

Date: 28/05/2019 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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