IFA HOTELS AND RESORTS LIMITED - FULFILMENT OF THE CONDITIONS PRECEDENT AND A FURTHER CAUTIONARY ANNOUNCEMENT.

FULFILMENT OF THE CONDITIONS PRECEDENT AND A FURTHER CAUTIONARY
ANNOUNCEMENT.

IFA Hotels & Resorts Limited
Registration number 1919/001318/06
Share code: IFH
ISIN: ZAE000075669
("IFA" or "the Company)


FULFILMENT OF THE CONDITIONS PRECEDENT AND A FURTHER CAUTIONARY
ANNOUNCEMENT.


1. Introduction
IFA shareholders are referred to the announcement released on
SENS on 8 August 2012 (“the Announcement”) regarding extension
of   timeline   for     the   fulfilment      of    the    conditions       precedent
relating to the Disposal by IFA Boschendal Investments (Pty)
Limited (“IFA Boschendal”) in terms of which Canombys Limited
(“Canombys”) will acquire, as one indivisible transaction, all
of   IFA   Boschendal’s shares and claims in Boschendal(“the
Transaction”) from IFA Boschendal.


2. Conditions Precedent
Shareholders  are hereby advised that the last outstanding
condition precedent yet to be met is the obtaining of exchange
control approval. The parties have agreed that the fulfilment
date of this condition precedent be extended to 16:00 on Friday,
24 August 2012.


3. Further cautionary announcement
IFA Shareholders are advised that the cautionary announcement
contained in the Announcement is hereby extended and
shareholders are therefore advised to continue to exercise
caution when dealing in the Company’s securities until a further
announcement is made.


Zimbali
17 August 2012
Sponsor: Sasfin Capital (a division of Sasfin Bank Limited)
Legal Advisor: Larson Falconer Incorporated
Corporate Advisor: DEA-RU (Pty) Ltd

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