ATTACQ LIMITED - Update on disposal of interest in Ikeja City Mall

Update on disposal of interest in Ikeja City Mall

ATTACQ LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/000543/06)
JSE share code: ATT ISIN: ZAE000177218
(Approved as a REIT by the JSE)
("Attacq")


UPDATE ON DISPOSAL OF INTEREST IN IKEJA CITY MALL


Shareholders are referred to the announcement released on SENS on 9 November 2020 wherein shareholders
were advised that that AIH International Limited (a wholly owned subsidiary of Attacq) and Hyprop Investments
(Mauritius) Limited (a wholly owned subsidiary of Hyprop Investments Limited) (collectively the "Sellers")
have concluded an agreement ("SPA") to dispose of their indirect shareholding and shareholder loans in Gruppo
Investment Nigeria Limited which owns Ikeja City Mall, Nigeria (the "property"), to AIH No 6 Limited (which
will assign its rights and novate its obligations in terms of the SPA to Actis Africa Sustainable Real Estate
Income Fund) and Actis West Africa REIF LP (the "transaction").

Shareholders are advised that:

-     due to a US dollar liquidity shortage in Nigeria the long stop date for the transaction has been extended to
      31 July 2021 (the "long stop date") and may be extended further by written agreement between the Sellers
      and the purchasers if the US dollar liquidity shortage has not markedly improved by such date; and
-     the parties have agreed that the Sellers may engage other potential buyers for the property, and should the
      Sellers wish to enter into an agreement with such buyers, terminate the SPA prior to the long stop date.

It remains Attacq's intention to exit its sub-Saharan Africa (excluding South Africa) investments and the parties
remain committed to the transaction. However, until there is an improvement in the US dollar liquidity in
Nigeria, the parties have resolved not to incur any further transaction costs (including legal fees on the
transaction documents and merger approval process).

Should there be any development in relation to the transaction, shareholders will be updated accordingly.

3 May 2021


Sponsor
Java Capital

Date: 03-05-2021 12:45:00
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