Gazit-Globe Confirms Final Instalment Time and Amount of Final Instalment in Respect of Trust Units of First Capital REIT Represented by Instalment Receipts

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TEL-AVIV, Jan. 14, 2020 /CNW/ - Gazit-Globe Ltd. (TASE: GZT) ("Gazit-Globe") confirms today that the Final Instalment Time and the amount of the Final Instalment that is due in respect of each trust unit of First Capital Real Estate Investment Trust ("First Capital REIT") represented by an instalment receipt (the "Trust Units") are 3:30 p.m. (Toronto time) on April 13, 2020 (the "Final Instalment Date"), and $10.30, respectively.

All capitalized terms used in this press release shall, unless otherwise defined in this press release, have the meanings ascribed to them in the instalment receipt, escrow and pledge agreement (the "Instalment Receipt Agreement") dated April 11, 2019 between, among others, First Capital Realty Inc. (now First Capital REIT ("First Capital")), Gazit Canada Inc. (the "Selling Shareholder"), a wholly-owned subsidiary of Gazit-Globe, Gazit-Globe and Computershare Trust Company of Canada (the "Custodian").  The Instalment Receipt Agreement was entered into in connection with the sale on April 11, 2019 by the Selling Shareholder of 22,000,000 common shares of First Capital represented by instalment receipts ("Instalment Receipts") in a "bought deal" secondary offering to certain underwriters pursuant to a short form prospectus of First Capital dated March 13, 2019.  As a result of the prepayment of the Final Instalment by certain Holders (as defined below), as of the date hereof, approximately 12 million Instalment Receipts remain outstanding.  The CUSIP and ISIN numbers of the Instalment Receipts are 31943B175 and CA31943B1756, respectively, and the Instalment Receipt Agreement is available under First Capital's profile on SEDAR at www.sedar.com.    

Failure by a holder (a "Holder") of Instalment Receipts to pay the Custodian the total amount of the Final Instalment at or before 3:30 p.m. (Toronto time) on the Final Instalment Date may, subject to the conditions of the Instalment Receipt Agreement and applicable laws, result in the related Trust Units being forfeited to the Selling Shareholder in satisfaction of the obligations of the Holder in respect of such Trust Units, or being sold by the Custodian on behalf of the Holder. In the event of a sale, the Holder will be responsible for their portion of the Custodian's costs of sale and will be liable to the Selling Shareholder for any deficiency between the net proceeds of such sale and the outstanding Final Instalment as and to the extent provided for in the Instalment Receipt Agreement.

The Instalment Receipts are currently registered in the name of, and held by or on behalf of, CDS Clearing and Depository Services Inc. ("CDS") as custodian for its participants. Beneficial interests in the Instalment Receipts, constituting ownership of the Instalment Receipts, are represented through book-entry accounts of institutions acting on behalf of beneficial Holders, as direct and indirect participants of CDS, rather than by definitive certificates. A beneficial Holder of Instalment Receipts who wishes to take any action under the Instalment Receipt Agreement and whose Instalment Receipts are registered in the name of an investment dealer, stock broker, bank, trust company or other nominee should immediately contact such nominee in order to take the necessary steps to be able to take such action.

About Gazit-Globe

Gazit-Globe is a leading global real estate company focused on the ownership, management and development of income-producing properties located in densely populated urban areas in North America, Brazil, Israel, Northern, Central and Eastern Europe. Gazit-Globe is listed on the Tel Aviv Stock Exchange (TASE: GZT) and is included in the TA-35 index in Israel. As of September 30, 2019, Gazit-Globe owns and operates 101 properties, with a gross leasable area of approximately 2.4 million square meters and a total value of approximately NIS 37 billion.

SOURCE Gazit-Globe Ltd.

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