Redefine Properties Limited · JSE:RDF
Redefine Properties — Non-Deal Roadshow (May 2015)
12 slides from Redefine Properties's roadshow presentation, May 2015
Slide 1: Redefine Properties Empowerment Trust
REDEFINE PROPERTIES EMPOWERMENT TRUST MAY 2015 www.redefine.co.za
Slide 2: Redefine's Approach to Transformation
REDEFINE’S APPROACH TO TRANSFORMATION Equitable economic opportunities Black equity participation, investment in under Ownership and resourced areas and transacting with black management Economic development owners The opportunity barrier Supporting empowered entities and forging business relationsh
Slide 3: Redefine Rationale and BBBEE Philosophy
REDEFINE RATIONALE AND BBBEE PHILOSOPHY The transaction is structured to embrace the true spirit of broad-based black economic empowerment • Developed in accordance with the DTI’s Codes of Good Practice and the Property Sector Charter Codes • BBBEE is a national, business and socio-economic imperati
Slide 4: Trust Objectives
TRUST OBJECTIVES • The Trust will operate independently and shall be managed by external independent Trustees • There will be a maximum of 5 and a minimum of 2 Trustees (50% must be Black Persons) • The sole objective is to contribute to the empowerment and upliftment of the beneficiaries • The Trus
Slide 5: Transaction Highlights
TRANSACTION HIGHLIGHTS • 300 million Redefine shares to be issued to the Trust Size • Redefine shares in issues will increase by up to 7.68% • To be funded by a Redefine Loan • Interest on the Redefine Loan will be payable by way of set-off against the Funding distributions received on the subscript
Slide 6: Beneficiaries
BENEFICIARIES • All the beneficiaries must be black persons • At least 50% of the annual distributions made by the Trust must be made to black persons that are female • The beneficiaries will be classified in the following categories • Class A beneficiaries: includes school children and pre-school c
Slide 7: Current Trustees
CURRENT TRUSTEES Bridgitte Mathews A Chartered Accountant and businesswoman who offers consulting, financial management and tax services to leading clients through her company Ca Vie Investments (Pty) Ltd She also focuses on QMS implementation and acts as a facilitator, providing training across var
Slide 8: Funding of the Trust
FUNDING OF THE TRUST • Redefine to issue up to 300 million shares to the Redefine Empowerment Trust • Issue price will be at a 5% discount to the clean 30 day volume weighted average traded price per Redefine share on the subscription date • Subscription price will be financed by way of an interest
Slide 9: Illustrative Financial Effects
ILLUSTRATIVE FINANCIAL EFFECTS * Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Issue price (cents) 1 100 Loan shares (m) 300 300 255 210 180 150 120 90 60 30 - Capital outstanding (Rm) 3 300 3 300 2 805 2 310 1 980 1 650 1 320 990 660 330 - Target price (cents) 1 200 1 272 1 348 1 429
Slide 10: Compliance with Codes of Good Practice
COMPLIANCE WITH CODES OF GOOD PRACTICE • The notice of clarification from the DTI (Notice 396 of 2015) which sought to limit points scored for black ownership held through broad-based ownership schemes to only 3 points has been withdrawn by the revised notice of clarification (Notice 444 of 2015) •
Slide 11: Way Forward
WAY FORWARD Redefine shareholders’ approval required for the issue of up to 300 million shares to the Trust as well as authority for Redefine to advance the loan to the Trust Timetable for the general meeting as follows: • Last day to trade in order to be eligible to vote at the general meeting Frid
Slide 12: www.redefine.co.za 0860DEFINE
www.redefine.co.za 0860DEFINE