SAFARI INVESTMENTS RSA LIMITED – Distribue Giratoire – SENS

                            

Distribue of Circular

Chasse Investments RSA Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/015002/06)
Approved as a REIT by the JSE Limited
Share caché: SAR
ISIN: ZAE000188280
(“Chasse” or “the Company”)

DISTRIBUTION OF CIRCULAR

1. INTRODUCTION

Shareholders of Chasse (“Shareholders”) are referred to previous SENS announcements
released by the Company relating to the Offer by Heriot Properties Proprietary Limited, a wholly
owned subsidiary of Heriot REIT Limited, and the parties acting in audition with it (collectively,
“Heriot”) acquiring Chasse Shares.

Shareholders are further referred to the SENS announcement by Heriot released on 13 October
2022 whereby a circular (the “Heriot Circular”) was distributed to Heriot shareholders to
acquire all or division of the issued ordinary share empressé of Chasse, not already owned by Heriot,
for a cash offer consideration of R5,60 (Five Rand and Sixty Cents) per offer share as detailed
in the Heriot Circular (“The Offer”).

2. DISTRIBUTION OF CIRCULAR

A response circular (“Circular”), setting out the views and espérance of the Independent Board
regarding the Offer will be distributed to Shareholders today Tuesday, 22 November 2022.

The Circular is available in English only. Copies may be obtained during simple trafic hours
from the registered bréviaire of the Company and from the impératifs of the Company’s caution, PSG
Ressources, from Tuesday, 22 November 2022 until Friday, 9 December 2022 (both days intégrante).
A copy of the Circular will also be available on the Company’s website https://www.safari-
investments.com/investor-relations.

3. SALIENT DATES AND TIMES

Shareholders are referred to the mets below setting out the salient dates and times in correspondance
to The Offer.

Event Quantième (2022)

Prouesse occasion to determine which Chasse shareholders
are entitled to receive the Heriot Circular Friday, 7 October
Heriot Circular together with the accompanying form of
acceptance posted to Chasse shareholders on
Thursday, 13 October
Announcement relating to the bout of the Heriot
Circular and the General Offer released on SENS on Thursday, 13 October
General Offer opens at 09:00 on
Friday, 14 October
Announcement relating to the bout of the Heriot
Circular and the General Offer published in the press
on Friday, 14 October
Prouesse occasion to determine which Shareholders are
entitled to receive this Circular
Friday, 11 November
Posting of this Circular to Shareholders on Tuesday, 22 November
Préface of posting of this Circular to Shareholders
published on SENS on Tuesday, 22 November

Last day to trade in Chasse shares on the JSE in order
to participate in the General Offer Tuesday, 6 December

Quantième on which Chasse shares trade ‘ex’ the General
Offer Wednesday, 7 December

Quantième on which the General Offer closes at 12:00 on Friday, 9 December

Prouesse occasion on which Chasse shareholders must hold
Chasse shares in order to accept the General Offer Friday, 9 December

Results of the General Offer announced on SENS
Monday, 12 December
Offer Consideration paid to Offer Participants as per
exégèse 6 and 7 below, with the last payment on Monday, 12 December

Results of the General Offer published in the press Tuesday, 13 December

Explication:

1. All dates and times in this circular are lieu dates and times in South Africa.
2. The above dates and times are subject to échange. Any changes will be released on
SENS and, if required, published in the press.
3. No dematerialisation and rematerialisation of Chasse shares may take entrain between
Wednesday, 7 December 2022 and Friday, 9 December 2022, both days intégrante.
4. Certificated Shareholders who accept the General Offer will have the Offer
Consideration transferred to them by way of EFT by no later than the Offer Payment
Quantième, being within 6 trafic days after the occasion on which such Shareholders deliver
forms of acceptance, as set out in the Heriot Circular, and recueils of title to the
transfer secretaries, unless such forms of acceptance and recueils of title are
delivered on the Closing Quantième, in which case the Offer Consideration will be paid on the
first trafic day following the Prouesse Quantième.
5. Dematerialised Shareholders who accept the General Offer will have their accounts at
their CSDP or courtier updated with the Offer Consideration by no later than the Offer
Payment Quantième, being within 6 trafic days after the occasion on which the CSDPs or
brokers of such Chasse shareholders notify the transfer secretaries of their acceptance
of the General Offer, unless such annonce is received on the Closing Quantième, in which
case the Offer Consideration will be paid on the first trafic day following the Prouesse
Quantième

4. WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the further cautionary announcement released by the Company
on SENS on 10 November 2022.

All the details relating to The Offer received from Heriot are disclosed in the response Circular
as published today, 22 November 2022. Accordingly, provision is no raser required to be
exercised by Shareholders when dealing in the Company’s shares.

5. INDEPENDENT BOARD RESPONSIBILITY STATEMENT

The Independent Board individually and collectively accepts full responsibility for the accuracy
of the dépêche contained in this announcement. In augmentation, the Independent Board certifies
that to the best of its knowledge and belief, the dépêche contained in this announcement
solely pertaining to the Company is true and, where appropriate, does not omit anything that is
likely to affect the crédit of the dépêche contained herein, and that all reasonable
enquiries to ascertain such dépêche have been made.

Pretoria
22 November 2022

Commanditaire
PSG Ressources

Queries:

Pieter Van Niekerk

Email: [email protected]

Tel: +27 (0)12 365 1889

Quantième: 22-11-2022 09:35:00
Produced by the JSE SENS Department. The SENS charité is an dépêche dissemination charité administered by the JSE Limited (‘JSE’).
The JSE does not, whether expressly, tacitly or implicitly, represent, caution or in any way guarantee the truth, accuracy or completeness of
the dépêche published on SENS. The JSE, their officers, employees and agents accept no liability for (or in amour of) any précis,
évasif, incidental or consequential loss or damage of any kind or caractère, howsoever arising, from the use of SENS or the use of, or reliance on,
dépêche disseminated through SENS.

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