30 Jul - 2 min read

Provision Of Financial Assistance

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,
as amended (“Companies Act”), to related or inter-related companies, which was approved
at the annual general meeting of Fairvest on 17 November 2020.

Fairvest shareholders are notified, in terms of section 45(5)(a) of the Companies Act, that the
board of directors of the Company (“Board”) has approved the provision of financial
assistance, pursuant to the above shareholder approval, to Libode Shopping Centre
Proprietary Limited (“Libode”), a subsidiary of Fairvest. This new financial assistance
substitutes the previous financial assistance provided to Libode, referred to in the Company’s
SENS announcement dated 30 May 2019. This new Board approval grants financial
assistance by providing a guarantee of R25 million in support of bank funding to be obtained
by Libode.

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 approval. 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
30 July 2021

Sponsor
PSG Capital

Date: 30-07-2021 10:20:00
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