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Finalisation announcement in respect of distribution by Resilient of B shares in Fortress and renewal of cautionary
RESILIENT REIT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/016851/06)
JSE share code: RES ISIN: ZAE000209557
(Approved as a REIT by the JSE)
("Resilient")
FINALISATION ANNOUNCEMENT IN RESPECT OF THE DISTRIBUTION BY RESILIENT OF B SHARES IN FORTRESS REIT LIMITED AND
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the announcement released on SENS on 6 April 2018 (the "declaration announcement")
in respect of the proposed distribution by Resilient of 169 981 600 B ordinary shares in Fortress REIT Limited
("Fortress") (being 15,65% of the Fortress B shares in issue and 7,49% of all Fortress shares in issue) in the ratio
of 0,4 Fortress B shares for every Resilient share held at the close of trade on Friday, 4 May 2018 (the "proposed
distribution").
Resilient is pleased to inform shareholders that all conditions precedent to the proposed distribution have been
fulfilled. Accordingly, Resilient will now proceed to implement the proposed distribution in accordance with the terms
set out in the declaration announcement. The salient dates and times in respect of the proposed distribution remain as
set out in the declaration announcement.
In implementing the proposed distribution, Resilient is required by the JSE to apply the JSE's rounding principle. As
such, if a Resilient shareholder becomes entitled to a fraction of a Fortress B share arising from the proposed
distribution, such Fortress B share will be rounded down to the nearest whole number, resulting in the allocation of
whole Fortress B shares and a cash payment for the fraction. The value of such cash payment will be the volume-
weighted average traded price of Fortress B shares less 10% on the first day Resilient shares trade 'ex' the entitlement
to receive the proposed distribution, being Wednesday, 2 May 2018, and will be announced on SENS on Thursday,
3 May 2018.
In order to give effect to the proposed distribution, 169 981 600 Fortress B shares, currently held by Resilient
Properties Proprietary Limited, a wholly-owned subsidiary of Resilient, will be transferred to Resilient by way of an
off-market transfer.
Renewal of cautionary
Shareholders are referred to the joint announcement released on SENS on 7 March 2018 by Resilient and Fortress
regarding the proposed restructure of The Siyakha Education Trust and The Siyakha 2 Education Trust (the "Siyakha
restructure"). Resilient, Fortress and the Trustees of both trusts remain in negotiations regarding the Siyakha
restructure. Resilient shareholders are hereby advised to continue to exercise caution in their dealings in Resilient
shares pending further announcements in respect of the Siyakha restructure.
20 April 2018
Corporate advisor and sponsor
Java Capital
Date: 20/04/2018 10:37:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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