EMIRA PROPERTY FUND LIMITED - Voluntary Update in respect of the disposal of certain of Emiras Office Assets and Associated Letting Enterprises

Voluntary Update in respect of the disposal of certain of Emira’s Office Assets and Associated Letting Enterprises

EMIRA PROPERTY FUND LIMITED
Incorporated in the Republic of South Africa
(Registration number 2014/130842/06)
JSE share code: EMI       ISIN: ZAE000203063
JSE Interest Rate Issuer Code: EMII
(Approved as a REIT by the JSE)
(“Emira” or “the Company”)


VOLUNTARY UPDATE IN RESPECT OF THE DISPOSAL OF CERTAIN OF EMIRA’S OFFICE ASSETS AND
ASSOCIATED LETTING ENTERPRISES

Shareholders are referred to the announcement released on SENS on 9 October 2018, wherein the
Board advised that it had approved the entering into of a rental enterprise sale agreement (“the Sale
Agreement”) with Shankly Property Investments Proprietary Limited (“Shankly”), in respect of the
disposal of 25 office assets (“the Office Portfolio”) and associated letting enterprises, with a view of
rebalancing its portfolio (“the Transaction”).

Shareholders are advised that, subsequent to the signature by Emira and Shankly of an addendum to
the Sale Agreement, the following suspensive condition in respect of the Transaction has been met:

-     by 31 October 2018, the remaining Transaction documents, which includes, inter alia, the
      agreements pertaining to the provision of third-party finance, having been entered into by the
      parties thereto.

The Transaction remains conditional upon the fulfilment or, where applicable, waiver, of the following
suspensive conditions:

-     by 31 January 2019, the Transaction having been unconditionally approved by the Competition
      Commission, Competition Tribunal and/or Competition Appeal Court; and

-     in relation to the transfer of the properties situated at 1059 Francis Baard and Tuinhof, the
      renewal or extension by a period of 3 years of the current lease agreements with the respective
      anchor tenants of those properties, by no later than the date of lodgement of the relevant
      transfer and bond documents with the Deeds Office.


Bryanston
1 November 2018

Sponsor and Corporate Advisor to Emira
Questco Corporate Advisory Proprietary Limited




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