VOTING AGREEMENTVoting Agreement • June 22nd, 2004 • Chelsea Property Group Inc • Real estate investment trusts
TERM SHEET--CONVERTIBLE PERPETUAL PREFERRED OFFERING -------------------------- ------------------------------------------------------ Issuer.............................. Simon Property Group, Inc. / Simon Property Group, L.P. Gross...Convertible Preferred Stock Offering • June 22nd, 2004 • Chelsea Property Group Inc • Real estate investment trusts
Issuer.............................. Simon Property Group, Inc. / Simon Property Group, L.P. Gross Proceeds...................... [$935 million] Maturity............................ Perpetual Dividends........................... 6.00%, payable quarterly in arrears. Dividends are cumulative from the date of initial issue Liquidation Preference.............. $50 per share of preferred stock Strike Price........................ Initially equal to $63.86 (25% conversion premium) Ranking ............................ The Convertible Preferred Stock will rank senior to Issuer common stock, and on parity with other outstanding shares of Issuer Preferred Stock, with respect to payment of dividends and the distribution of assets in the event of liquidation, dissolution or winding up Expected Ratings.................... [Baa3/BBB-] Contingent Conversion Rights........ Conditions for Conversion are: |X| Contingent Conversion Trigger initially equal to $79.83 (125% of the conversion price per share
EXECUTION VERSION AGREEMENT AND PLAN OF MERGER Dated as of June 20, 2004,Merger Agreement • June 22nd, 2004 • Chelsea Property Group Inc • Real estate investment trusts • Maryland
