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Transcend Residential Property Issues 7.3 Mln Shares To Emira Property Fund

Transcend Residential Property Issues 7.3 Mln Shares To Emira Property Fund

* GENERAL ISSUE OF SHARES FOR CASH, NOTIFICATION OF ACQUISITION OF A BENEFICIAL INTEREST AND RENEWAL OF CAUTIONARY

* ISSUED 7.3 MILLION SHARES TO EMIRA PROPERTY FUND AT R6.29 PER SHARE

* NO IMPACT ON FINANCIAL STATEMENTS OF CO AS A RESULT OF SUBSCRIPTION OTHER THAN ISSUE OF EQUITY FOR CASH

* PROCEEDS OF SUBSCRIPTION TO BE USED FOR RECENTLY ANNOUNCED ACQUISITIONS OF COMPANY, REALIGNING CAPITAL STRUCTURE

* SHAREHOLDERS ARE ADVISED TO CONTINUE TO EXERCISE CAUTION WHEN DEALING IN COMPANY’S SHARES

* REMAINS ENGAGED IN TRANSACTION NEGOTIATIONS WHICH, IF CONCLUDED, MAY HAVE A MATERIAL EFFECT ON PRICE OF CO’S SHARES

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