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FREEDOM PROPERTY FUND LIMITED - Renewal of Cautionary Announcement, Extension of Exclusivity Period of Expression of Interest and Change to Board

Release Date: 07/07/2020 17:00
Code(s): FDP     PDF:  
Wrap Text
Renewal of Cautionary Announcement, Extension of Exclusivity Period of Expression of Interest and Change to Board

 FREEDOM PROPERTY FUND LIMITED
 Incorporated in the Republic of South Africa
 Registration number: 2012/129186/06
 Share code: FDP
 ISIN: ZAE000185260
 (“Freedom” or “the Company)


RENEWAL OF CAUTIONARY ANNOUNCEMENT, EXTENSION OF EXCLUSIVITY PERIOD OF
EXPRESSION OF INTEREST AND CHANGE TO THE BOARD



Renewal of cautionary announcement:
Shareholders are referred to the renewal of cautionary announcement released on SENS on 26 June
2020 relating to the non-binding expression of interest (“Expression of Interest”) from South African
Housing and Infrastructure Fund (“SAHIF”) to acquire all of the issued shares of Freedom by way of a
scheme of arrangement in terms of section 114 of the Companies Act 2008 (“the Potential
Transaction”).

Shareholders are advised that the Company and SAHIF have agreed, in writing, to extend the exclusivity
period of the Expression of Interest to 31 August 2020.

If implemented, the Potential Transaction may have a material effect on the price of the Company’s
securities and shareholders are accordingly advised to continue to exercise caution should they enter
into any off-market trades in their Freedom shares until a further announcement is made.

Change to the Board:
The board of directors of the Company (“the Board”) advises shareholders of the appointment of
Mr. Stephen Naudé as an independent non-executive director with effect from
7 July 2020 to serve on an Independent Board of the Company which has been constituted to consider
the terms of the Potential Transaction.

Mr Naudé is a chartered accountant and obtained his MBA from the University of Chicago Graduate
School of Business. He has more than 35 years’ experience in corporate finance and investment banking
in both the domestic and cross-border markets. He is also a member of the Institute of Directors South
Africa.

The Board welcomes Mr. Naudé and looks forward to his contribution.



Paarl
7 July 2020

Sponsor




Questco Corporate Advisory Proprietary Limited

Date: 07-07-2020 05:00:00
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