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INVESTEC AUSTRALIA PROPERTY FUND - Results of fully underwritten accelerated bookbuild offering to fund acquisitions

Release Date: 26/09/2019 12:00
Code(s): IAP     PDF:  
 
Wrap Text
Results of fully underwritten accelerated bookbuild offering to fund acquisitions

INVESTEC AUSTRALIA PROPERTY FUND
Established in Australia and registered with ASIC as a managed investment scheme (ARSN 162 067 736)
and 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”)


NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE
UNITED STATES, PEOPLE’S REPUBLIC OF CHINA (SAVE FOR THE SPECIAL ADMINISTRATIVE
REGION OF HONG KONG), CANADA OR JAPAN. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR
FORM AN OFFER OF SECURITIES IN ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO
SO. SEE THE SECTION OF THIS ANNOUNCEMENT ENTITLED "OFFER RESTRICTIONS" FOR
INFORMATION ON WHERE THIS ANNOUNCEMENT MAY BE DISTRIBUTED.


RESULTS OF FULLY UNDERWRITTEN ACCELERATED BOOKBUILD OFFERING TO FUND ACQUISITIONS


IAP is pleased to announce that it has successfully closed the fully underwritten accelerated bookbuild
announced earlier today (“Placement”), Thursday, 26 September 2019. The amount of equity raised was
approximately AUD84 million (approximately ZAR849 million(1)).


55,572,553 new IAP units (“New Units”) were placed pursuant to the Placement at an issue price of AUD1.52
(equivalent to ZAR15.36(1)) per New Unit.


Subject to approval by the JSE Limited, listing and trading of the New Units is expected to commence at 09h00
on Wednesday, 2 October 2019 (South African time).


Johannesburg
26 September 2019


Joint book runner in South Africa, corporate advisor and JSE sponsor
Investec Bank Limited


Footnote
(1) Based on an AUD/ZAR exchange rate of 1.0000/10.1038 as at 5.00pm New York close on Tuesday, 24 September 2019.


Important Information

The Placement is made to qualifying investors, being investors to whom the Placement may be lawfully made
without having to file or register any offering or related documentation with any securities regulatory authority
in any relevant jurisdiction. See the section of this announcement below entitled "Offer Restrictions" for further
information.

This announcement is not for publication or distribution or release, directly or indirectly, in or into the United
States, People’s Republic of China (save for the Special Administrative Region of Hong Kong), Canada, Japan
or any other jurisdiction in which such release, publication or distribution would be unlawful. This
announcement is for information purposes only and shall not constitute or form part of an offer or solicitation
of an offer to purchase or subscribe for securities in any jurisdiction. The Placement is not to be regarded as
an offer or invitation to any person in any jurisdiction to the extent that any applicable legal requirement in such
jurisdiction has not been complied with or it is for any reason illegal or unlawful to make such an offer or
invitation in such jurisdiction.

The securities offered in terms of the Placement have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "US Securities Act"), and may not be offered or sold, directly
or indirectly, in the United States, absent an exemption from, or transaction not subject to, the registration
requirements of the US Securities Act. No public offering of securities is being made in the United States.

Neither this announcement nor the Placement constitutes or is intended to constitute an offer to the public in
South Africa in terms of the Companies Act, No. 71 of 2008 (as amended). In South Africa, the invitation to
apply for IAP units in terms of the Placement is only open to (i) persons who are acting as principal and who
apply for IAP units at a minimum acquisition cost of ZAR 1,000,000, as contemplated in section 96(1)(b) of the
South African Companies Act 71 of 2008 (as amended), or (ii) persons who comply with the requirements set
out in section 96(1)(a) of the South African Companies Act 71 of 2008 (as amended).

This announcement is not for distribution, and the securities offered in terms of the Placement may not be
offered or sold, directly or indirectly, in any member state of the European Union.

This announcement has been issued by and is the sole responsibility of the Responsible Entity. No
representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility
or liability is or will be accepted by Investec or by any of their respective affiliates or agents as to, or in relation
to, the accuracy or completeness of this announcement or any other written or oral information made available
to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated
with an investment in the securities. No representation or warranty is made by the Responsible Entity or
Investec in connection with the Placement, and any investment decision to buy securities in terms of the
Placement must be made solely on the basis of publicly available information which has not been
independently verified by Investec.
Investec is acting for the Responsible Entity, and no one else, in connection with the Placement and will not
be responsible to anyone other than the Responsible Entity for providing the protections offered to clients of
Investec, nor for providing advice in relation to the Placement.

Offer Restrictions
This announcement does not constitute an offer of securities in terms of the Placement in any jurisdiction in
which it would be unlawful. In particular, this announcement may not be distributed to any person, and the
securities offered in terms of the Placement may not be offered or sold, in any country except to the extent
permitted below.

Guernsey
This announcement is only being, and may only be, made available in or from within the Bailiwick of Guernsey
and the offer that is the subject of this announcement is only being, and may only be, made in or from within
the Bailiwick of Guernsey:

-     by persons licensed to do so under the Protection of Investors (Bailiwick of Guernsey) Law, 1987 (as
      amended); or

-     to persons licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 1987 (as
      amended), the Banking Supervision (Bailiwick of Guernsey) Law, 1994 (as amended), the Regulation
      of Fiduciaries, Administration Business and Company Directors, etc. (Bailiwick of Guernsey) Law,
      2000 (as amended) or the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey)
      Law, 2002 (as amended).

The Placement and this announcement are not available in or from within the Bailiwick of Guernsey other than
in accordance with the above bullet points and must not be relied upon by any person unless made or received
in accordance with such bullet points.

Hong Kong
WARNING: This announcement has not been, and will not be, authorised by the Securities and Futures
Commission in Hong Kong pursuant to the Securities and Futures Ordinance (Cap. 571) of the Laws of Hong
Kong (the "SFO"). No action has been taken in Hong Kong to authorise this announcement or to permit the
distribution of this announcement or any documents issued in connection with it. Accordingly, the IAP units
have not been and will not be offered or sold in Hong Kong other than to “professional investors" (as defined
in the SFO).

No advertisement, invitation or document relating to the IAP units has been or will be issued, or has been or
will be in the possession of any person for the purpose of issue, in Hong Kong or elsewhere that is directed at,
or the contents of which are likely to be accessed or read by, the public of Hong Kong (except if permitted to
do so under the securities laws of Hong Kong) other than with respect to the IAP units which are or are intended
to be disposed of only to persons outside Hong Kong or only to professional investors as defined in the SFO
and any rules made under that ordinance.
The contents of this announcement have not been reviewed by any Hong Kong regulatory authority. You are
advised to exercise caution in relation to the offer. If you are in doubt about any contents of this announcement,
you should obtain independent professional advice.

New Zealand
This announcement has not been registered, filed with or approved by any New Zealand regulatory authority
under the Financial Markets Conduct Act 2013 (New Zealand) (the "FMC Act"). The IAP units are not being
offered or sold in New Zealand (or allotted with a view to being offered for sale in New Zealand) other than to
a person who:

-     is an investment business within the meaning of clause 37 of Schedule 1 of the FMC Act;
-     meets the investment activity criteria specified in clause 38 of Schedule 1 of the FMC Act;
-     is large within the meaning of clause 39 of Schedule 1 of the FMC Act;
-     is a government agency within the meaning of clause 40 of Schedule 1 of the FMC Act; or
-     is an eligible investor within the meaning of clause 41 of Schedule 1 of the FMC Act.

Singapore
This announcement has not been registered as a prospectus with the Monetary Authority of Singapore ("MAS")
and, accordingly, statutory liability under the Securities and Futures Act, Chapter 289 (the "SFA") in relation to
the content of prospectuses does not apply, and you should consider carefully whether the investment is
suitable for you. The Responsible Entity is not authorised or recognised by the MAS and the IAP units are not
allowed to be offered to the retail public. This announcement and any other document or material in connection
with the offer or sale, or invitation for subscription or purchase of the IAP units may not be circulated or
distributed, nor may the IAP units be offered or sold, or be made the subject of an invitation for subscription or
purchase, whether directly or indirectly, to persons in Singapore except to "institutional investors" (as
defined in the SFA), or otherwise pursuant to, and in accordance with the conditions of, any other applicable
provisions of the SFA.

This announcement has been given to you on the basis that you are an "institutional investor" (as defined
under the SFA). In the event that you are not an institutional investor, please return this announcement
immediately. You may not forward or circulate this announcement to any other person in Singapore.

Any offer is not made to you with a view to the IAP units being subsequently offered for sale to any other
party. You are advised to acquaint yourself with the SFA provisions relating to resale restrictions in Singapore
and comply accordingly.

South Africa
This announcement does not, nor is it intended to, constitute a prospectus prepared and registered under the
South African Companies Act and may not be distributed to the public in South Africa.

An entity or institution resident in South Africa may not implement participation in the offer unless (i) permitted
under the South African Exchange Control Regulations or (ii) a specific approval has been obtained from an
authorised foreign exchange dealer in South Africa or the Financial Surveillance Department of the South
African Reserve Bank.

Date: 26/09/2019 12:00:00
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