ApexHi Properties Limited unit holders today voted in favour of the proposed new C unit, which paves the way for a BEE transaction that will see 10% of the voting rights in ApexHi held by Clearwater Capital and a broad-based BEE ownership scheme.

ApexHi sells mothballed office space in CBD for residential conversion

Linked unit-holders of Madison Property Fund Managers Limited, the first property asset manager in South Africa to be listed on the JSE Limited, are set to benefit from the transaction which should result from Redefine Income Fund Limited’s offer to Spearhead Property Holdings Limited unit-holders to acquire 100% of the Spearhead linked units in issue.

ApexHi Properties Limited has concluded leasing deals valued at R1-billion, covering a total of 460,000m² of space, in the twelve months to end June 2006.

ApexHi Properties Limited has elected not to have its previous “zaA stable” rating by local ratings agency CA-Ratings reviewed because it was no longer considered beneficial to the further raising of debt.

APEXHI TO DISPOSE OF MICC UNITS IN EXCHANGE FOR PROPERTIES

The purchase of the entire Prima property portfolio by ApexHi Properties Limited has been unconditionally approved by both ApexHi unit holders and Prima unit holders, as well as the Competition Tribunal.

Renewal follows successful year of leasing deals

ApexHi Properties Limited has continued to maintain high trading volumes, with more than 45% of its units in issue trading in the nine months ended 31 March 2005.

Positive letting activity positions ApexHi ahead of target.