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BNT - Bonatla Property Holdings Limited - Update on the Acquisition of Tropical

Release Date: 25/02/2011 17:37
Code(s): BNT
Wrap Text

BNT - Bonatla Property Holdings Limited - Update on the Acquisition of Tropical Paradise Trading 334 (Pty) Ltd, Austin Crossing Properties (Pty) Ltd and Madeline Street Properties (Pty) Ltd 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") UPDATE ON THE ACQUISITION OF TROPICAL PARADISE TRADING 334 (PTY) LTD ("TROPICAL PARADISE TRADING"), AUSTIN CROSSING PROPERTIES (PTY) LTD ("AUSTING CROSSING PROPERTIES") AND MADELINE STREET PROPERTIES (PTY) LTD ("MADELINE STREET") Shareholders are referred to the SENS announcement dated 4th January 2011 detailing the acquisition of the shares and claims in Tropical Paradise Trading, which owns the building known as Flextronics and the acquisition of the shares and claims in Austin Crossing Properties, which owns the Austin Crossing Shopping Centre and the SENS announcement dated 20th January 2011, detailing the acquisition of Madeline Street Properties, which owns the property known as Madeline Street (together referred to as "the Property Companies"). The board of Bonatla is pleased to advise that general meetings of the shareholders of Madeline Street Holdings (Pty) Ltd (which owns the shares in Madeline Street), Austin Crossing Holdings (Pty) Ltd (which owns the shares in Austin Crossing) and Liberty Lane Trading 98 (Pty) Ltd (which owns the shares in Tropical Paradise Trading) (together the "Property Owning Companies") were held on 17 February 2011 and 25 February 2011 respectively, at which meetings, special resolutions in terms of Section 228 of the Companies Act, 1973 (as amended) approving the sale of the Property Companies to Bonatla Properties (Pty) Ltd and ordinary resolutions in respect of proceeding with Section 311 offers of compromise to the creditors in respect of the Property Owning companies were passed by the requisite majority of shareholders of each company. The special resolutions will be submitted to CIPRO for registration in due course. Houghton 25 February 2011 Sponsor Arcay Moela Sponsors (Pty) Ltd Date: 25/02/2011 17:37:01 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.

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