TMT - Trematon - Disposal by Trematon of Its 20% equity interest in Ingenuity

TMT - Trematon - Disposal by Trematon of Its 20% equity interest in Ingenuity   
Property Investments Limited - Cautionary Announcement                          
Trematon Capital Investments Limited                                            
(Incorporated in the Republic of South Africa)                                  
Registration number 1997/008691/06                                              
Share code: TMT                                                                 
ISIN: ZAE000013991                                                              
("Trematon" or "the Company")                                                   
DISPOSAL BY TREMATON OF ITS 20% EQUITY INTEREST IN INGENUITY PROPERTY           
INVESTMENTS LIMITED                                                             
CAUTIONARY ANNOUNCEMENT                                                         
1.   Introduction and terms                                                     
Shareholders are advised that Trematon, through its wholly-owned subsidiaries   
Tremgrowth (Pty) Ltd and Tremtrade (Pty) Ltd, has entered into sale of shares   
agreements dated 30 December 2009 in terms of which Trematon will dispose of 137
million ordinary shares in Ingenuity Property Investments Limited ("Ingenuity"),
constituting 20.8% of the issued ordinary share capital of Ingenuity for a      
consideration of R68,5 million to Jacana Assets Limited and Mr LI Frenkel("the  
disposal").                                                                     
The effective date of the disposal is the first business day following the date 
on which all the conditions precedent (set out in paragraph 4 below) are        
fulfilled ("the effective date").                                               
2.   Settlement of the consideration                                            
The consideration of R68,5 million will be settled in cash on the effective     
date.                                                                           
3.   Description of Ingenuity and rationale for the disposal                    
Ingenuity is a property investment company with its core strategic focus to     
acquire and develop properties within the Western Cape region.                  
Although the asset base and the management of Ingenuity are of high quality the 
board of Trematon is of the opinion that the current needs of shareholders would
be better served by selling the investment at a fair price and reducing the     
overall level of gearing in the company.                                        
4.   Conditions precedent                                                       
The disposal is subject to approval by the requisite number of Trematon         
shareholders in a general meeting on or before 31 March 2010.                   
5.   Categorisation of the acquisition                                          
The disposal is categorised as a Category 1 transaction in terms of the JSE     
Limited Listings Requirements.                                                  
6.   Cautionary announcement                                                    
Shareholders are advised to exercise caution when dealing in the company`s      
securities on the JSE until an announcement containing financial effects of the 
disposal is released.                                                           
Cape Town                                                                       
31 December 2009                                                                
Sponsor: Sasfin Capital                                                         
(A division of Sasfin Bank Limited)                                             
Date: 31/12/2009 09:34:01 Supplied by www.sharenet.co.za                     
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