In the announcement released on 20 April 2015, Dawn Properties shareholders were advised the Company had received notice from Brainworks Capital Management (Private) Limited, that it now controlled more than 35% of the issued share capital in the Company, and as per the requirements of the ZSE Listing Rules Brainworks Capital intended to make a mandatory offer to minority shareholders.

Prior to the notice, Brainworks Capital controlled 30.10% shareholding in Dawn Properties. Through secondary market transaction that were completed March 2015,Brainworks Capital further acquired 336,717,651Dawn Properties shares in the open market, representing an additional 17.35% of the issued share capital of Dawn Properties taking their shareholding in Dawn Properties to 47.45%. With this transaction, Brainworks Capital thereby breached the 35% mandatory offer threshold and subsequently notified management of Dawn Properties of their intention to meet the requirements of the mandatory offer.

Circular to shareholders

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