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Provision Of Financial Assistance
FAIRVEST PROPERTY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/005011/06)
Share code: FVT
ISIN: ZAE000203808
(Approved as a REIT by the JSE)
(“Fairvest” or “the Company”)
PROVISION OF FINANCIAL ASSISTANCE
Shareholders are referred to Special Resolution Number 3, relating to the provision of direct or indirect financial
assistance in terms of section 45 of the Companies Act, No 71 of 2008 (“Companies Act”) to related or inter-
related companies, which was approved at the annual general meeting of Fairvest on 14 November 2018.
Fairvest shareholders are notified in terms of section 45(5)(a) of the Companies Act, that the board of directors
of the Company (“Board”) approved the provision of financial assistance (“Board Resolution”), pursuant to
the above shareholder approval, to Southview Shopping Centre Proprietary Limited (“Southview”), a
subsidiary of Fairvest. This new financial assistance should be read with the previous financial assistance to
Southview referred to in the SENS announcement on 8 November 2017. This new Board approval authorises
financial assistance by way of a guarantee of R48,000,000 issued by Fairvest to ABSA Bank Limited. This has
been provided as security for a bank loan raised by Southview.
The financial assistance provided, as detailed above, is greater than one-tenth of 1% of Fairvest’s net worth
as at the date of the Board Resolution. Prior to authorising the aforementioned financial assistance, the Board
considered and satisfied itself, in terms of section 45 of the Companies Act, that (1) immediately after providing
the financial assistance, the Company would satisfy the solvency and liquidity test as contemplated in section
4 of the Companies Act, (2) there has been due compliance with the Company’s memorandum of incorporation
and (3) the terms of the financial assistance are fair and reasonable to the Company.
Cape Town
13 March 2019
Sponsor
PSG Capital
Date: 13/03/2019 03:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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