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Renewal of Cautionary Announcement
BONATLA PROPERTY HOLDINGS LIMITED
(Registration number 1996/014533/06)
Share code: BNT ISIN: ZAE000013694
(”Bonatla” or “the Company”)
RENEWAL OF CAUTIONARY ANNOUNCEMENT
1. Introduction
Shareholders are referred to the previous renewal of cautionary announcements,
the last of which was dated 22 June 2017, 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 the JSE
Listings Requirements.
2. Financial information still to be announced
- Share-swap agreement for Kimberley Diamond and Jewellery Hub announced
on 5 May 2014 (see 3 below); and
- Share-swap agreement for Lincoln Meade Park announced on 5 May 2014
(see 3 below).
3. Discussions and on-going negotiations
- A potential joint venture transaction by CPTech Proprietary Limited in Southern
Africa and Mozambique;
- Negotiations for the acquisition of rental properties in Mozambique are being
finalised;
- Acquisition of a special purpose vehicle to be formed for the Jozini acquisition
as previously announced, which negotiations have been extended to a
strategic interest the Jozini Tiger Fish Lodge and the Jozini Estate development;
- Negotiations on various other income-producing property portfolios;
- Negotiations to restructure the Kimberley Diamond Hub transaction with the
Government of the Northern Cape are being finalised; and
- Negotiations to restructure the Lincoln Meade transaction with the Msunduzi
Municipality are being finalised.
4. Loan Agreement, underwriting agreement and intended rights offer with the
Kinfedi Consortium (“Kinfedi Agreement”)
Shareholders are referred to the Renewal of Cautionary Announcement dated
10 May 2017 wherein it was noted, inter alia, that the R800m of funding to be
made available through the loan facility is expected to be available for draw
down by the end of January 2017 and the Update on Kinfedi Loan Agreement
and Underwriting Agreement dated 12 June 2017, wherein it was noted that due
to the micro economic events that have occurred in South Africa in the last few
months, the finalisation of the funding arrangements and release of funds have
taken much longer than expected.
Shareholders are advised that drawdowns are expected to commence by no
later than 29 August 2017. The effective date of the agreement has therefore
been extended to 31 August 2017.
5. Renewal of Cautionary Announcement
Shareholders are advised to continue exercising caution in dealing in the
Company’s securities until further announcements are made detailing:
(i) the outstanding financial information detailed in paragraph 2 above;
(ii) the on-going discussions and/or negotiations detailed in paragraph 3
above; and
(iii) the Kinfedi Agreement detailed in paragraph 4 above.
By order of the board
3 August 2017
SPONSOR
Arbor Capital Sponsors Proprietary Limited
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