19 May - 2 min read

Disposal of shares in NEPI Rockcastle

Disposal of shares in NEPI Rockcastle

Incorporated in the Republic of South Africa
Registration number: 2002/016851/06
JSE share code: RES
ISIN: ZAE000209557
Bond company code: BIRPIF
LEI: 378900F37FF47D486C58
(Approved as a REIT by the JSE)
(“Resilient” or “the Company”)


Shareholders and noteholders are referred to Resilient’s interim results for the six months ended 31 December 2020
released on SENS on 23 March 2021 wherein shareholders and noteholders were advised that Resilient had disposed of
9 323 943 shares in NEPI Rockcastle plc (“NEPI Rockcastle”) for c.R818 million since the previous category 2
announcement of 22 May 2020 relating to Resilient’s participation in the equity raise of Lighthouse Capital Limited
(“the May announcement”). Resilient has sold a further 3 661 295 NEPI Rockcastle shares on-market. Since the May
announcement, Resilient has sold 12 985 238 NEPI Rockcastle shares for an aggregate consideration of c.R1,17 billion
(the “disposals”).

Resilient’s policy is to hold sufficient interest in investments to provide it with significant influence over the 
companies in which it is invested. The proceeds of the disposals have been used to reduce Resilient’s existing debt.

Additional required information

NEPI Rockcastle is the owner and operator of shopping centres in Central and Eastern Europe, with a presence in nine
countries. NEPI Rockcastle’s shares are listed on the JSE, Euronext Amsterdam and A2X.

The following profitability metrics are attributable to NEPI Rockcastle for the year ended 31 December 2020:

                                                Euro cents
 Distributable earnings per share                    38,42
 Basic/diluted loss per share                      (27,99)
 Headline earnings per share                         18,12

Categorisation of the disposals

The disposals, when aggregated since the May announcement are classified as a category 2 transaction in terms of the
JSE Listings Requirements, and as such are not subject to shareholder approval.

19 May 2021

Java Capital

Date: 19-05-2021 05:35:00
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