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Disposal of Forum Viseu
LIGHTHOUSE CAPITAL LIMITED
(Incorporated in the Republic of Mauritius on 14 August 2014)
(Registration number C124756 C1/GBL)
SEM share code: GFP.N0000
JSE share code: LTE
ISIN: MU0461N00015
LEI: 549300UG27SWRF0X2U62
(“Lighthouse” or “the Company”)
DISPOSAL OF FORUM VISEU
Introduction
Shareholders are referred to the announcement dated 12 February 2020, wherein the Company advised that a bidder had
finalised its due diligence process in relation to the acquisition of the Forum Viseu shopping centre in Viseu, Portugal
(“Forum Viseu”). The Company has now concluded a sale of assets agreement with CA Património Crescente – Fundo
de Investimento Imobiliário Aberto to dispose of the Forum Viseu shopping centre for a total cash consideration of EUR
39.70 million (the “Disposal”).
The effective date of the Disposal is 6 March 2020.
Rationale for the Disposal and application of proceeds
The Company had designated Forum Viseu as a non-core investment and the net proceeds from the Disposal will be
invested in terms of the Company’s investment policy, being investments in regionally dominant malls located in areas
where there are large and/or growing populations benefitting from the global urbanisation trend.
Property specific information
Property name Forum Viseu
Location Viseu, Portugal
Sector Retail
Total GLA (m2) 18,687m2
Weighted average rental per m2 per month EUR 15.91
Disposal consideration EUR 39.70 million
Transaction costs EUR 0.34 million
Value attributable to the property EUR 39.32 million
Net operating income for the year ended 30 September 2019 EUR 2.84 million
The property was valued at EUR 39.32 million at 30 September 2019 by JLL (Portugal), an independent external
property valuer that is registered with the Royal Institute of Chartered Surveyors.
Salient terms of the disposal and conditions precedent
The transaction is not subject to any conditions precedent.
Classification of the disposal
Lighthouse Capital is listed on the JSE Limited (“JSE”) as an investment company and the disposal constitutes a
transaction concluded in the ordinary course of business. The disposal is not categorised in terms of section 9 of the
JSE Listings Requirements, but, as the quantum of the disposal proceeds amounts to in excess of 10% of the company’s
market capitalisation, an announcement complying with section 9 of the JSE Listings Requirements is required.
The Company has primary listings on both the Official Market of the SEM and the Main Board of the JSE.
6 March 2020
By order of the Board
This notice is issued pursuant to JSE Listing Requirements, SEM Listing Rule 11.3 and Rule 5(1) of the Securities
(Disclosure Obligations of Reporting Issuers) Rules 2007. The Board accepts full responsibility for the accuracy of the
information in this announcement.
For further information please contact:
SEM authorised representative
JSE sponsor and sponsor Company Secretary
Java Capital Perigeum Capital Intercontinental Trust Ltd
Tel: +27 11 722 3050 Tel: +230 402 0890 Tel: +230 403 0800
Date: 06-03-2020 02:32:00
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