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HERIOT REIT LIMITED - Acquisition of shares in Safari Investments (RSA) Limited

Release Date: 09/12/2021 17:05
Code(s): HET     PDF:  
Wrap Text
Acquisition of shares in Safari Investments (RSA) Limited

(Incorporated in the Republic of South Africa)
(Registration number: 2017/167697/06)
(Approved as a REIT by the JSE)
JSE share code: HET ISIN: ZAE000246740
("Heriot" or "the company")


Shareholders are referred to Heriot's reviewed annual financial results for the year ended 30 June 2021, released
on SENS on 30 September 2021 wherein shareholders were advised of the acquisition by Heriot of 50 078 280
shares in Safari Investments (RSA) Limited ("Safari") for a total consideration of R280,438 million. The
additional Safari shares were acquired on 26 July 2021 from third parties as follows:

Vendor                                                                                            No. of shares
PS Stewart                                                                                               63 280
JP Baxter                                                                                                15 000
Counterpoint Boutique Proprietary Limited                                                            50 000 000
Total                                                                                                50 078 280

Safari is a JSE listed property owning company with a portfolio of retail, office and residential properties, with
the majority of its assets being retail properties in and around Pretoria. The acquisition of additional Safari
shares is in line with Heriot's stated strategy to increase its shareholding in Safari, as Heriot considers Safari's
property portfolio to be complementary to the property portfolio owned by the company, and that such enhanced
shareholding will allow Heriot to expand its real estate investments.

The following profitability metrics are attributable to Safari for the year ended 31 March 2021:

Distributable earnings per share (cents)                                                                 29.00
Basic earnings per share (cents)                                                                        103.78
Headline earnings per share (cents)                                                                      37.92

The acquisition of Safari shares constitutes a category 2 acquisition and is therefore not subject to shareholder

9 December 2021

Designated advisor
Java Capital

Date: 09-12-2021 05:05:00
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