BONATLA PROPERTY HOLDINGS LIMITED - Partial withdrawal of Cautionary Announcement, Financial Information and Renewal of Cautionary Announcement

Partial withdrawal of Cautionary Announcement, Financial Information and Renewal of Cautionary Announcement

BONATLA PROPERTY HOLDINGS LIMITED
(Registration number 1996/014533/06)
Share code: BNT ISIN: ZAE000013694
(”Bonatla” or “the Company”)

PARTIAL WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT, FINANCIAL INFORMATION
AND RENEWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the previous cautionary announcements, the last of
which was dated 30 June 2016, and are advised of the following additional financial
information.

1.     Financial information

1.1.   Acquisition of an increased shareholding in Carbon Processing and
       Technologies Proprietary Limited (“CPTech”) from related parties announced
       on 17 May 2013
       Shareholders are referred to the original announcement dated 17 May 2013
       advising shareholders of a further acquisition of a 25% interest in CPTech and
       its loan accounts from I Dube Trust. In addition CPTech undertook a rights
       offer to existing shareholders. Bonatla followed its rights by the capitalisation
       of its loan. The balance of the CPTech minority shareholders did not follow
       their rights and Bonatla accordingly took up additional rights increasing
       Bonatla’s shareholding in CPTech to 90%. The following financial information is
       now announced:

1.1.1. Impact on the statement of financial position
       The net asset value of CPTech for the year ended 31 December 2012
       amounted to (R2 384).

1.1.2. Impact on the statement of comprehensive and other income
       The net loss after taxation of CPTech for the year ended 31 December 2012
       amounted to R19 251 795. This loss was assumed by the non-controlling
       shareholders in terms of an agreement dated 1 January 2013 as detailed in
       the Annual Financial Statements for the year ended 31 December 2012.

2.     Partial withdrawal of cautionary announcement and documentation

       Shareholders are referred to the financial information in 1.1 above and are
       advised that the cautionary announcement is withdrawn in respect of the
       acquisition of an increased shareholding in CPTech from related parties.

       In accordance with the JSE Listings Requirements, a circular is to be issued
       within 60 days of publication of a terms announcement.
       However, due to the complex nature of the circular to shareholders that is
       required to regularise transactions from 2009 to date, the Company will have
       to apply to the JSE for an extension of time to be able to finalise the requisite
       circular to shareholders.

       A circular convening a general meeting and providing further detail of the
       acquisition of a further shareholding in CPTech will be sent to the Company’s
       shareholders in due course.

3.     Financial information still to be announced

       -   Share Swap Agreement for Kimberley Diamond and Jewellery Hub announced on 
           22 September 2014; and
       -   Share Swap Agreement for Lincoln Meade Park announced on 22 September 2014.

4.     On-going discussions and negotiations

       -   acquisition of a portion of Ruitersvlei;
       -   a potential joint venture transaction with CPTech Proprietary Limited in
           Southern Africa and Mozambique;
       -   negotiations for the acquisition of rental properties in Belize and
           Mozambique; and
       -   negotiations on various other income-producing property portfolios.

5.     Renewal of cautionary announcement

       Shareholders are referred to the previous cautionary announcements, the last
       of which was dated 30 June 2016, and are advised that certain negotiations
       referred to therein are still in progress or financial information is required to be
       announced.

       The JSE requires that the Company needs to address its current compliance
       with paragraph 4.28 of the JSE Listings Requirements. Due to on-going
       negotiations this assessment has still not been finalised but will be provided to
       the JSE in due course. In the interim, the Company has commenced with the
       preparation of the circular to shareholders which will include details of all
       previously announced transactions and new transactions, which will address
       compliance with paragraph 4.28 of the JSE Listings Requirements.

       Shareholders are advised to continue exercising caution in dealing in the
       Company’s securities until an announcement is made detailing the financial
       information on the above transactions and until further announcements are
       made regarding the on-going discussions and/or negotiations detailed
       above.

By order of the board
12 August 2016

SPONSOR
Arbor Capital Sponsors Proprietary Limited

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