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BNT - Bonatla Property Holdings Limited - Acquisition of shares in a Charcoal and Activated Carbon Manufacturing business - Voluntary announcement BONATLA PROPERTY HOLDINGS LIMITED Incorporated in the Republic of South Africa Registration Number 1996/014533/06 Share Code: BNT ISIN Number: ZAE000013694 ("Bonatla" or "the company") ACQUISITION OF SHARES IN A CHARCOAL AND ACTIVATED CARBON MANUFACTURING BUSINESS - VOLUNTARY ANNOUNCEMENT Shareholders are advised that the company has concluded an agreement dated 29 January 2011 in relation to the acquisition of 51% in Carbon Processing and Technology (Proprietary) Limited, a manufacturer of activated carbon and charcoal, from Dusty Moon 225 (Pty) Ltd and the IDUBE Trust. The shares in the business will be held through M&P Boating (Pty) Ltd ("M&PB"), a wholly owned subsidiary of the company. Carbon Processing and Technology (Pty) Ltd holds the Sub-Saharan rights to establish carboniser plants using the pyrolysis technology developed in Italy. The carbon produced by these plants is comparable with the best quality carbon in the world and has extensive application in the purification of water at both the utility supply and domestic white goods level. The purchase consideration was R1 (one rand) and a loan injection of R9 999 999 as well as the procurement of an asset financing facility of R19,5 million. The loan injection and financing facility have been put in place. The rationale for the acquisition is as follows: * There is a strong and growing global demand for activated carbon products. * The business is the only one of its kind on the African continent, and the barriers and costs of entry are substantial. * An off-take agreement has been entered into with Jacobi AG ("Jacobi"), the fifth largest global player in the activated carbon market, whereby Jacobi will take 100% of the production for 5 years at market related prices. The business will operate through a manufacturing facility located on a property, both of which are already owned by Cambridge Park Mall (Pty) Ltd, a wholly owned subsidiary of Bonatla. The business will pay rental to Cambridge Park Mall for the use of plant and rental on the property. All conditions precedent have been fulfilled and the effective date is 1 January 2011. RESTRUCTURING OF THE BOARD AND MANAGEMENT In light of the recent additions to the property portfolio, and in order to strengthen the management and board of the company, a re-organization and restructuring of the board of directors of Bonatla will take place, details of which will be included in the forthcoming acquisition circular. 1 February 2011 Sponsor Arcay Moela Sponsors (Proprietary) Limited Date: 01/02/2011 16:14:02 Supplied by www.sharenet.co.za 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.
