Sharenet Sites 
Sharenet Sites
Commencement of internalisation discussions
INVESTEC AUSTRALIA PROPERTY FUND
Established in Australia and registered with ASIC as a managed investment scheme (ARSN 162 067 736)
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 2002
Unit code: IAP
ISIN: AU0000046005
(IAP or the Fund)
Commencement of internalisation discussions
The Board of the Responsible Entity announces that it has commenced early stage discussions with the
Investec Group to internalise the management of IAP, including retention of the existing management team
(Proposal).
The Board of the Responsible Entity has established a sub-committee (IBC) comprising the independent
directors to consider the Proposal on behalf of IAP unitholders. The IBC has appointed JP Morgan (Australia)
Limited and Macquarie Capital (Australia) Limited as financial advisors and King & Wood Mallesons as legal
counsel.
Preliminary discussions have been constructive. It is noted that the Proposal would be subject to customary
conditions, including regulatory conditions and the approval of IAP unitholders. The IBC can give no assurance
that the Proposal or any other transaction will proceed.
This announcement has been authorised for release by the Company Secretary.
Johannesburg
10 June 2020
Investment Bank and Sponsor
Investec Bank Limited
Date: 10-06-2020 08:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
