Update on Proposed Listing on JSE and Name Change


 

TIDMCRF 
 
RNS Number : 1036N 
Ciref PLC 
04 June 2010 
 

                      Ciref Plc ("Ciref" or "the Company") 
UPDATE ON PROPOSED LISTING ON THE JOHANNESBURG STOCK EXCHANGE AND CHANGE OF NAME 
Further to the Company's  interim results announcement on 17 May 2010 in which 
it  stated that it intended to seek a listing on the JSE Limited ("JSE") and to 
undertake an associated capital raising, Ciref is pleased to announce the 
following update. 
Following consultation with The South African Reserve Bank ("SARB") it has been 
decided not to pursue a direct inward listing of Ciref on the JSE. An 
alternative structure has been approved by the SARB whereby Redefine Properties 
Limited (which currently holds approximately a 70% interest in Ciref) has been 
granted approval to hold its interest in Ciref directly through a wholly owned 
South African subsidiary, Redefine International Limited ("Redefine 
International") which will be listed on the JSE ("the listing"). 
Redefine International will be a property loan stock company with its shares 
linked to debentures to create linked units. Redefine International's sole asset 
will be its shareholding in Ciref and the company will be structured in such a 
way that a single linked unit in Redefine International will be equivalent to a 
single share in Ciref. It is currently anticipated that the listing of Redefine 
International on the JSE and the associated capital raising will be completed by 
the end of August 2010. 
Simultaneous with the listing of Redefine International on the JSE, Ciref 
intends to undertake a capital raising to allow it to further develop its 
business. 
As a result of the listing of Redefine International on the JSE, Ciref's Board 
has taken a decision to implement a change of name for Ciref to Redefine 
International plc with effect from 1 July 2010 (approved by shareholders on 18 
December 2009). 
Further details of the listing and the proposed capital raisings will be 
announced in due course. 
 
Enquiries: 
+----------------------------------+--------------------------+ 
| Ciref Plc                        |        +27(0)21 683 3829 | 
| Gavin Tipper - Chairman          |                          | 
+----------------------------------+--------------------------+ 
| Singer Capital Markets           |       +44(0)203 205 7500 | 
| Jeff Keating / Richard Savage    |                          | 
+----------------------------------+--------------------------+ 
| Powerscourt                      |       +44(0)207 250 1446 | 
| Matthew Fletcher / Karen Le      |                          | 
| Cannu                            |                          | 
+----------------------------------+--------------------------+ 
| Corovest Fund Managers Limited   |                          | 
| Miles Walton                     |          +1 284 494 9820 | 
+----------------------------------+--------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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