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Stellendale Junction: Approval of Building Plans
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
ISIN code: ZAE000187407 Share code: VIS
(“Visual” or “the Company”)
STELLENDALE JUNCTION: APPROVAL OF BUILDING PLANS
As previously communicated to shareholders, the building plans for Stellendale Junction
property had been submitted to the City of Cape Town, which approval took much longer
than originally expected.
The Board is pleased to announce that approval of the building plans has finally been received
and the construction work on Stellendale Junction, comprising approximately 500 apartments,
has commenced this week.
Going forward, Visual will generate a 50% profit share on transfer of sales of units within
Stellendale Junction. As previously advised Phase I, known as The Knysna, comprising 56 units,
has been sold out. The building of The Knysna is planned to be completed and transfer of the
apartments passed by the end of November 2023. The profit share will be received against
the transfer of the units through the Deeds office, expected from November 2023 onwards.
Phase 2 is expected to be launched once top structure building work has commenced.
CAPE TOWN
30 March 2023
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 30-03-2023 08:45:00
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