TREMATON CAPITAL INVESTMENTS LTD - Acquisition of 50% interest in Hibernian Towers, Strand, Western Cape

Acquisition of 50% interest in Hibernian Towers, Strand, Western Cape

Trematon Capital Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/008691/06
Share code: TMT
ISIN: ZAE000013991
("Trematon" or "the company")



ACQUISITION OF       50%   INTEREST   IN   HIBERNIAN   TOWERS,   STRAND,
WESTERN CAPE

1.    Introduction

Shareholders are advised that Trematon, via its 50% beneficial
interest in the Resi Investment Trust (“Resi”), has entered
into agreements in terms of which it has purchased a selection
of apartments in a development, known as Hibernian Towers, in
the Strand, Western Cape (“the property”)(“the acquisition”).

2.    Details of the property

The property is situated on the Strand beachfront and comprises
sectional title apartments.


3.    Rationale for the acquisition

The company identified the transaction as an appropriate
investment to realise capital profits over the medium to long-
term, whilst increasing its exposure in the residential
property market.

3.    Terms of the acquisition

4.1   The vendor

The property was purchased from Quaypower Properties Limited
(UK).

4.2   Terms and purchase consideration

Resi acquired the property for a purchase consideration of
R62.8 million (including vat) paid in cash on 25 February 2013.

Trematon’s portion of the investment is R31.4 million which
represents its 50% interest.

The full purchase consideration will be funded from borrowings.
                                                             2


There are no outstanding conditions precedent.

Effective date

The effective date of the acquisition is the date of transfer
of the property into the name of the Resi Investment Trust
which is expected to be on or about 8 April 2013.

Financial information

The acquisition will not have a significant effect on the
earnings and headline earnings or net asset value and tangible
net asset value of the company.

This announcement is published in terms of the JSE Listings
Requirements as the acquisition constitutes a category 2
transaction for the company.


26 February 2013

Cape Town



Sponsor

Sasfin Capital

(a division of Sasfin Bank Limited)

Date: 26/02/2013 10:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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