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Sharenet Sites
Renewal of Cautionary Announcement
New Frontier Properties Limited
(Registration number: 123368C1/GBL)
SEM share code: NFP.N0000
JSE share code: NFP
ISIN: MU0453N00004
(“New Frontier” or “the Company”)
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement published on SENS on
26 January 2022, which advised that the Council for the Borough of Middlesbrough
(“Council”) has acquired the Middlesbrough Shopping Centre with immediate effect for
a purchase consideration of GBP12m in cash. This will be applied to eliminate the loan.
Shareholders are advised that as the Company still does not have control over its
properties as announced regularly on SENS and the asset manager is continuing with the
process of trying to sell the remaining property, which disposal will similarly be without the
required JSE and shareholder approval, which will again result in a breach of the JSE
Listings Requirements.
Shareholders are advised that the current carrying value of the remaining shopping
centre is similarly below the remaining loan amount. Accordingly, shareholders are
advised to continue exercising caution when dealing in the Company’s securities until a
further announcement is made.
The Company remains suspended on both the SEM and the JSE and has until 30 June 2022
to finalise its audit for the years ended 31 August 2020, and 31 August 2021 and publish its
quarterly results, failing which the listing on SEM may face termination.
New Frontier was incorporated in the Republic of Mauritius on 5 June 2014 and holds
primary listings on both the Official Market of the SEM and the Alternative Exchange of the
JSE.
By Order of the Board
9 March 2022
This notice is issued pursuant to SEM Listing Rule 11.3, the JSE Listings Requirements and the
Mauritian Securities Act 2005. The Board of the Company accepts full responsibility for the
accuracy of the information contained in this notice.
For further information please contact the JSE Sponsor, AcaciaCap Advisors Proprietary
Limited on +27 11 480 8500
Date: 09-03-2022 02:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
