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TRANSCEND RESIDENTIAL PROPERTY FUND LIMITED - General Issue of Shares for Cash, Notification of Acquisition of a Beneficial Interest and Renewal of Cautionary

Release Date: 05/10/2018 07:05
Code(s): TPF     PDF:  
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General Issue of Shares for Cash, Notification of Acquisition of a Beneficial Interest and Renewal of Cautionary

TRANSCEND RESIDENTIAL PROPERTY
FUND LIMITED
(Incorporated in the Republic of South Africa)
Registration number 2016/277183/06
JSE Code: TPF ISIN: ZAE000227765
(Approved as a REIT by the JSE)
(“Transcend” or “the Company”)


GENERAL ISSUE OF SHARES FOR CASH, NOTIFICATION OF THE ACQUISITION OF A
BENEFICIAL INTEREST IN SECURITIES AND RENEWAL OF CAUTIONARY ANNOUNCEMENT

GENERAL ISSUE OF SHARES FOR CASH

Transcend shareholders (“Shareholders”) are advised that the Company has issued 7 300 000
ordinary shares of no par value (“Subscription Shares”) in the share capital of Transcend to Emira
Property Fund Limited (“Emira”) at an issue price of R6.29 per share for a total consideration of
R45 917 000 (“the Subscription Price”), being a premium of 5.56% to the 30 day volume weighted
average price (“VWAP”) calculated on 2 October 2018, being the date prior to the date that the parties
entered into an agreement in respect of the subscription (“the Subscription”). The Subscription Shares
were allotted and issued on Thursday, 4 October 2018, against payment of the Subscription Price in
cash.

The Subscription is in terms of a general authority to issue shares for cash up to a maximum of 50%
of the Company’s listed ordinary shares as at the date of the notice of annual general meeting (being
33 152 832 shares), which approval was granted by Shareholders at the annual general meeting of
the Company held on 29 May 2018, and constitutes 11% of the number of shares in issue prior to, and
9.92% of the number of shares in issue after, the Subscription.

There is no impact on the financial statements of the Company as a result of the Subscription other
than the issue of equity for cash. The proceeds of the Subscription will be utilised in connection with
the recently announced acquisitions of the Company and to assist in realigning the Company’s capital
structure.

NOTIFICATION OF THE ACQUISITION OF A BENEFICIAL INTEREST IN SECURITIES

In compliance with section 122(3)(b) of the Companies Act, No. 71 of 2008 (“Companies Act”), as
amended, and paragraph 3.83(b) of the Listings Requirements of the JSE Limited, Shareholders are
advised that pursuant to the above Subscription, Emira has acquired a beneficial interest in the shares
of Transcend, such that its entire beneficial interest amounts to 9.92% of the total number of shares in
issue post the Subscription.

As required in terms of section 122(3)(a) of the Companies Act, Transcend has filed the required notice
with the Takeover Regulation Panel.

RENEWAL OF CAUTIONARY ANNOUNCEMENT

Notwithstanding the detail contained in this announcement, Shareholders are referred to the cautionary
announcement released on SENS dated 7 September 2018 and the subsequent renewal thereof dated
17 September 2018, wherein Shareholders were advised that the board of directors of the Company
are negotiating a further potential acquisition of a portfolio of properties (“the Transaction”).

Shareholders are further advised that the Company remains engaged in negotiations concerning the
Transaction which, if concluded, may have a material effect on the price of the Company’s shares.

Shareholders are advised to continue to exercise caution when dealing in the Company’s shares until
a further announcement is made in this regard.


Bryanston
5 October 2018

Corporate Advisor
Tenurey BSM Proprietary Limited

Designated Advisor and Transaction Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 05/10/2018 07:05:00 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.

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