FAIRVEST PROPERTY HOLDINGS LIMITED - Closing Of The Disposal Of Tokai Junction

Closing Of The Disposal Of Tokai Junction

FAIRVEST PROPERTY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/005011/06)
Share code: FVT
ISIN: ZAE000203808
(Approved as a REIT by the JSE)
(“Fairvest” or “the Company”)

CLOSING OF THE DISPOSAL OF TOKAI JUNCTION

Shareholders are referred to the previous announcements published on SENS by the
Company in respect of the disposal of Tokai Junction (the “disposal”), most recently on
14 July 2020.

The disposal became unconditional as of 7 September 2020 and the cash consideration of
R180 000 000 will be settled on registration of the property in the purchaser’s name, expected
to occur in October 2020.

The sale of the property at a premium to book value (2.1% premium to the 31 December 2019
valuation) underlines both the conservative valuation of Fairvest’s property portfolio, as well
as the demand for properties in the retail sub-sector that Fairvest operates in.

The disposal evidenced the Company’s ability to recycle capital, by disposing of non-core
assets, in an environment where access to capital is constrained, to further strengthen the
Company’s balance sheet.

9 September 2020
Cape Town

Transaction advisor
Java Capital

Sponsor
PSG Capital

Date: 09-09-2020 07:45:00
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