REDEFINE PROPERTIES LIMITED - Update on disposal of RDI REIT shares

Update on disposal of RDI REIT shares

REDEFINE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/018591/06)
JSE share code: RDF ISIN: ZAE000190252
LEI: 37890061EC026A7DA532
Debt company code: BIRDF
(Approved as a REIT by the JSE)
(“Redefine” or “the Company”)



UPDATE ON DISPOSAL OF RDI REIT SHARES



Shareholders are referred to the announcement released on SENS on 29 June 2020 wherein
shareholders were advised that Redefine had:

-    announced a tender offer made to the holders of its outstanding €150,000,000 1.50 per cent
     Secured Exchangeable Bonds due September 2021 (the “Bonds”) exchangeable into the
     ordinary shares of RDI pursuant to which bondholders could elect to tender to have all or any
     of their Bonds redeemed by Redefine (the “Tender Offer”); and

-    concluded an agreement to dispose of up to 111 883 113 shares in RDI REIT P.L.C. (“RDI”)
     being its entire shareholding in RDI, representing 29.42% of the RDI shares in issue to
     controlled affiliates of Starwood Capital Group (the “Disposal”), conditional on the Tender
     Offer being accepted in respect of Bonds which, when added to the aggregate principal amount
     of Bonds previously exchanged, redeemed, purchased and cancelled by the Company was
     equal to 85% of the principal amount of Bonds originally issued (the “Offer Condition”).

Redefine confirms that it received irrevocable tender offers for 100% of the outstanding Bonds and
that all offers have been accepted. Redefine further confirms that the Offer Condition has been
fulfilled and accordingly the Disposal of all of its 111 883 113 RDI shares for an aggregate sale
consideration of £106 288 957.35 will be implemented on 10 July 2020.

7 July 2020


Corporate Advisor and Sponsor
Java Capital

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