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Introduction
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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