Completion of Scheme and Listing Application

REDEFINE INTERNATIONAL P.L.C.

("Redefine International" or the "Company")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00B8BV8G91

COMPLETION OF SCHEME AND LISTING APPLICATION

Further to the announcement on 24 August 2017 regarding the acquisition of a further 29.34 per cent stake in International Hotel Properties Limited ("IHL") by way of a scheme of arrangement (the "Scheme"), Redefine International is pleased to report that all conditions to the Scheme have now been fulfilled. Shareholders were also advised that post implementation of the Scheme, a further 3.42 per cent stake in IHL would be acquired from Redefine Properties Limited (together, the "Transactions").

A total of 45,857,921 new Redefine International shares ("New Shares") will be issued as consideration for the Transactions, representing 2.49 per cent of the current issued share capital. The Transactions will complete on 13 November 2017 and take the Company's interest in IHL from 26.2 per cent to 58.9 per cent. The delisting of IHL will occur the following day.

As set out in the announcement dated 24 August 2017, the following shares in Redefine International will be issued to Mike Watters and Marc Wainer pursuant to the Scheme, both of whom are directors of Redefine International, and to Redefine Properties Limited, a substantial shareholder of the Company, as follows:

*Marc Wainer's beneficial interest will include 35,332 shares held in his name, 72,735 shares held in his wife's name, 181,838 shares held in the name of Drawood Trust and 5,735,882 shares held by Ellwain Investments (Pty) Limited, of which he is a 50% shareholder. 

Application has been made for the New Shares to be admitted to the Premium Segment of the Official List and to trading on the London Stock Exchange's Main Market and to be listed on the JSE ("Admission"). Admission of the New Shares, which will rank pari passu with the existing ordinary shares in the Company, is expected to occur on 13 November 2017. 

Following Admission, the Company's issued share capital will comprise 1,886,418,067 ordinary shares with one voting right per share. No shares are held in Treasury. The total number of voting rights will be 1,886,418,067. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

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About Redefine International

Redefine International is a FTSE 250 UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading income focused REIT. The Company's income-led business model and strategic priorities are designed to offer shareholders superior, sustainable and growing income returns, with a target growth in underlying earnings per share of 3%-5% across the medium term.

Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any one sector or tenant, together with an efficient capital structure. The secure and growing income stream is 39% indexed and has a WAULT of 7.4 years to first break (8.5 years to expiry). This is complemented by an average debt maturity of 7.3 years of which over 90% of interest costs are either fixed or capped. The Company is focused on all aspects impacting shareholder distributions and reports one of the lowest cost ratios in the industry whilst maintaining a low cost of debt. All figures as at 31 August 2017.

The Company owns properties independently valued at £1.5bn in the United Kingdom and Germany, Europe's two largest and most transparent property markets. Redefine International invests in assets with strong property fundamentals spread across UK shopping centres, UK retail parks, UK offices, UK logistics, UK hotels and German retail.

Redefine International holds a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and is included within the FTSE 250, EPRA and GPR indices.

For more information on Redefine International, please refer to the Company's website www.redefineinternational.com.