Change in ownership of Investment Manager


 

TIDMCRF 
 
RNS Number : 1849C 
Ciref PLC 
09 November 2009 
 

Ciref Plc 
("Ciref" or "the Company") 
 
 
Change in ownership of Investment Manager 
 
 
Ciref Plc ("Ciref"), the property investment and development company, announces 
that it has been notified by its investment manager, Corovest Fund Managers 
Limited ("CFM"), that Redefine Income Fund Limited ("Redefine") has increased 
its shareholding in CFM to 75.92%. Corovest Offshore Limited has decreased its 
shareholding to 13.4%. 
 
 
Redefine, a JSE Securities Exchange listed property investment company owns 
assets in excess of GBP2bn. Redefine, through its subsidiary Madison Property 
Fund Managers Limited, acquired an initial 40.0% stake in CFM in August 2007. 
 
 
Commenting on the transaction Ciref and Redefine director Marc Wainer said "This 
transaction strengthens the already strong relationship between Redefine and 
Ciref and it confirms Redefine's long-term commitment to Ciref as its largest 
shareholder." 
 
 
For further information contact: 
 
 
+-------------------------------------------+---------------------------------+ 
| Ciref Plc                                 | +27(0)21 683 3829               | 
| Gavin Tipper - Chairman                   |                                 | 
|                                           |                                 | 
+-------------------------------------------+---------------------------------+ 
| Singer Capital Markets                    | +44(0)203 205 7500              | 
| Nicholas How / Richard Savage             |                                 | 
|                                           |                                 | 
+-------------------------------------------+---------------------------------+ 
| Powerscourt                               | +44(0)207 250 1446              | 
| Matthew Fletcher / Karen Le Cannu         |                                 | 
|                                           |                                 | 
+-------------------------------------------+---------------------------------+ 
| Corovest Fund Managers Limited            | +1 284 494 9820                 | 
| Nicolaas Faure                            | +44 207 811 0100                | 
| Mike Watters                              |                                 | 
+-------------------------------------------+---------------------------------+ 
| Redefine Properties Limited               | +27 11 283 0024                 | 
| Marc Wainer                               |                                 | 
+-------------------------------------------+---------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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