INVESTEC AUSTRALIA PROPERTY FUND – ASX Listing and Offer

2019/05/16 09:21:00
SENS announcement for JSE listed company: IAP
                        

IAP 201905160023A
ASX Listing and Offer

INVESTEC AUSTRALIA PROPERTY FUND
Incorporated and registered in Australia in terms of ASIC (ARSN 162 067 736)
Registered as a foreign collective investment scheme in terms of the Collective Investment Schemes Control Act
No.45 of 2003 and operated by Investec Property Limited (ACN 071 514 246; AFSL 290 909) (‘Responsible
Entity’)
Share code: IAP
ISIN: AU60INL00018
(the ‘Fund’)

Not for release to US wire services or distribution in the United States

ASX LISTING AND OFFER

Investors are referred to the Product Disclosure Statement1 (PDS) lodged with the Australian Securities and
Investment Commission on 3 May 2019 in relation to the additional primary listing of the Fund on the Australian
Stock Exchange (ASX) together with an associated offer involving the issue by the Responsible Entity of
76, 923, 077 new units (Subscription Units) in the Fund (Offer). The Offer comprises a broker firm offer and
institutional offer.

Following strong interest in the Offer from both institutional investors and brokers on behalf of retail investors,
the Responsible Entity has, with the consent of the Joint Lead Managers, determined to bring forward the
timing of the institutional offer and bookbuild and close the broker firm offer early.

The institutional offer and bookbuild will open today (Thursday, 16 May 2019) at 5.00pm (Sydney time), and is
expected to close on Friday, 17 May 2019 at, or around, 3.00pm (Sydney time). The broker firm offer will now
close on Friday, 17 May 2019.

As disclosed in the PDS, the final subscription price will be determined through the institutional bookbuild,
subject to a minimum subscription price of A$1.30. It is expected that the final subscription price will be
announced to the market on Friday, 17 May 2019 (Johannesburg) on SENS and the Fund’s website at
www.iapf.com.au.

The timing of settlement, issue and allotment as well as commencement of trading on ASX remains
unchanged.

The updated important dates and times in relation to the Offer are set out below:

Important dates
Time
PDS date Friday, 3 May 2019
Broker Firm Offer Opening Date Monday, 13 May 2019
Broker Firm Offer Closing Date Friday, 17 May 2019 (3.00 pm Sydney
time)

Institutional Offer and bookbuild conducted Thursday, 16 May 2019 (5:00 pm Sydney
time / 9:00am Johannesburg time) to
Friday, 17 May 2019 (3:00pm Sydney
time / 7:00am Johannesburg time
Final Subscription Price and allocation announced on SENS Friday, 17 May 2019 (Johannesburg
time)
Settlement of Subscription Units on Australian Register Monday, 27 May 2019
Settlement and issue and Allotment of Subscription Units on South Monday, 27 May 2019 (Johannesburg
African Register, which commence trading on the JSE (on a normal time)
settlement (T+3) basis)
Issue and allotment of Subscription Units on Australian Register, Tuesday, 28 May 2019
which commence trading on the ASX (on a deferred settlement
basis)
Despatch of holding statements Wednesday, 29 May 2019
Subscription Units commence trading on the ASX (on a normal Thursday, 30 May 2019
settlement basis (T+2)) and continue trading on the JSE (on a normal settlement basis (T+3))

1
As updated by the notices dated 14 May 2019 and 16 May 2019 available on the Fund’s website in accordance with ASIC
Corporations (Updated Product Disclosure Statements) Instrument 2016/1055.

The timetable above is indicative only and may change without notice. Normal settlement of securities traded on the ASX is on a T+2
basis while normal settlement of securities traded on the JSE is on a T+3 basis.

The PDS remains available electronically at www.iapf.com.au. Investors should consider the PDS and the
Important Notices section at the end of this announcement in deciding whether to acquire or continue to hold
units in the Fund.

Johannesburg
16 May 2019

Joint Bookrunner, Financial Adviser and Sponsor
Investec Bank Limited

Investec Bank Limited will act as the sole bookrunner for the Offer in South Africa on the South African Register and
can be contacted using the contact details included below:

Investec contact details:
Carlyle Whittaker Karl Priessnitz
Email: carlyle.whittaker@investec.co.za Email: Karl.Priessnitz@investec.co.za
Tel: 011 286 9994 Tel: 011 291 3269

Meera Daya
Email: Meera.Daya@investec.co.za
Tel: 073 274 3950

Joint Lead Managers
J.P. Morgan Securities Australia Limited
Macquarie Capital (Australia) Limited
Important Notices

The issue of the Subscription Units to investors in terms of the Offer is conditional upon the ASX approving the Fund’s
application for listing.

This announcement is for information purposes only, does not purport to be full or completion, is subject to change
and shall not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities. The
Offer is not to be regarded as an offer or invitation to any person in any jurisdiction to the extent that any applicable
legal requirement in such jurisdiction has not been complied with or it is for any reason illegal or unlawful to make
such an offer or invitation in such jurisdiction.

This announcement has been issued by and is the sole responsibility of the Fund. No representation or warranty,
express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by
the Bookrunner or by any of their respective affiliates or agents as to, or in relation to, the accuracy or completeness
of this announcement or any other written or oral information made available to or publicly available to any interested
party or its advisers, and any liability therefore is expressly disclaimed.

This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated with
an investment in the securities. No representation or warranty is made by the Fund or the Bookrunner in connection
with the Offer, and any investment decision to buy securities in terms of the Offer must be made solely on the basis of
publicly available information which has not been independently verified by the Bookrunner.

The Bookrunner is acting for the Fund, and no one else, in connection with the Offer and will not be responsible to
anyone other than the Fund for providing the protections offered to clients of the Bookrunner, nor for providing advice
in relation to the Offer.

South Africa

Neither this announcement nor the Offer constitutes or is intended to constitute an offer to the public in South Africa
in terms of the South African Companies Act 71 of 2008 (as amended) (South African Companies Act). In South
Africa, the invitation to apply for the Subscription Units in terms of the Offer is only open to (i) persons who are acting
as principal and who apply for Subscription Units at a minimum acquisition cost of ZAR 1,000,000, as contemplated
in section 96(1)(b) of the South African Companies Act; or (ii) persons who comply with the requirements set out in
section 96(1)(a) of the South African Companies Act.

Not for release or distribution in the United States

This announcement has been prepared for publication in Australia and may not be released to US wire services or
distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to
buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not
been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United
States except in transactions exempt from, or not subject to, the registration requirements under the US Securities
Act and applicable US state securities laws.

Date: 16/05/2019 09:21:00 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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