VUKILE PROPERTY FUND LIMITED – Listing of Castellana on the Spanish Stock Exchange

SENS announcement for JSE listed company: VKE
                        

VKE 201807250029A
Listing of Castellana on the Spanish Stock Exchange

VUKILE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/027194/06)
JSE share code: VKE NSX share code: VKN
ISIN: ZAE000180865
Debt company code: VKEI
(Granted REIT status with the JSE)
(‘Vukile’ or ‘the company’)

LISTING OF CASTELLANA ON THE SPANISH STOCK EXCHANGE

CASTELLANA LISTING

Shareholders are referred to the announcement released on SENS on 18 July 2018 and are advised that the
shares in Vukile’s 98% Spanish subsidiary, Castellana Properties Socimi S.A (‘Castellana’), have today,
25 July 2018 been listed by way of introduction on the Mercado Alternativo Bursatil (‘MAB’) operated by
the Spanish Stock Exchange. The shares were listed by way of introduction at €6.00 per share, which
attributes a market capitalisation to Castellana of c.€204 million. The listing ensures that Castellana
complies with applicable Spanish tax legislation in order for Castellana to maintain its REIT status.

As at 31 March 2018, Vukile’s investment in Castellana accounted for 21% of Vukile’s total assets.

BRIEF OVERVIEW OF CASTELLANA

Castellana is a company dedicated to the acquisition, management and leasing of real estate assets, mainly
shopping centres and other retail assets located in Spain.

On listing, Castellana’s portfolio consists of 15 properties with a gross asset value of €391 million and
a GLA of 197 132m2. Vacancies were at 3.3%. The Castellana portfolio comprised 93.4% retail assets and
94% of its income was derived from national or international tenants. The portfolio had a WAULT of
17.3 years. On listing Castellana had a Loan to Value of c.48%

Castellana has a highly experienced internal asset management team. Property management functions are
outsourced to a leading global firm with significant experience in the Spanish retail market.

Castellana is well positioned to continue growing apace and Vukile is experiencing strong deal flow and
seeing the benefits of the operating infrastructure that it has created on the ground in Spain.

25 July 2018

Corporate advisor and JSE sponsor NSX sponsor
Java Capital IJG Securities (Pty) Ltd

Date: 25/07/2018 12:30:00 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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