Redefine International offering opens

Redefine Properties International Limited (RIN)‚ the JSE listed holding company of Redefine International PLC, has reminded linked unit holders that the offer to subscribe for new RIN linked units in terms of the pro rata offer opened today - Tuesday‚ September 25 - at 09:00.

The offer is being undertaken to enable RIN to subscribe for its entitlement under the GBP125.7 million RI PLC Capital raise‚ details of which were announced on September 13.

The RIN offer is to unitholders‚ registered on September 21‚ and has been priced at R4.60 per new RIN linked unit‚ which represents a discount of 3.29% to the 30 day volume weighted average price prior to August 29 2012‚ the date that the issue price was set. RIN-linked unitholders will be entitled to subscribe for 52.50 new RIN-linked units for every 100 linked units held.

RIN-linked unitholders will be entitled to apply for excess linked units not taken up by other RIN-linked unitholders.

The pro rata offer will remain open for acceptance until‚ and including‚ Monday‚ October 1 2012 at 12pm.

The new RIN linked units resulting from the capital raise‚ which will not rank for the dividend for the six months to August 31 2012‚ are expected to be listed on the JSE on October 3 2012.