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QHL - Queensgate Hotels and Leisure Limited - Renewal of cautionary announcement

Release Date: 01/04/2011 07:53
Code(s): QHL
Wrap Text

QHL - Queensgate Hotels and Leisure Limited - Renewal of cautionary announcement QUEENSGATE HOTELS AND LEISURE LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/013649/06) Share code: QHL ISIN Code: ZAE000113718 ("Queensgate" or "the company") RENEWAL OF CAUTIONARY ANNOUNCEMENT Further to the cautionary announcements dated 22 November 2010, 05 January 2011 and 17 February 2011 respectively, shareholders are advised that the Company has signed a mandate with Dale Private Equity (Pty) Ltd ("DPE") and ABT Private Equity CC ("ABT"), which latter company will be a related party advisor to the Company in relation to the proposed acquisition of assets ("the transaction") from Dale Capital Partners Limited ("Dale") and other Dale associated companies. Dale is a Stock Exchange of Mauritius listed entity. DPE is one of the original controlling shareholders of Queensgate and is acting on behalf of Dale. DPE will cover the costs of the related party advisor, ABT for a period of three months or to the closing date. The terms of the mandate are, inter alia, that ABT: - facilitate the transaction; and - undertake a debt settlement process. Accordingly, shareholders are advised to continue to exercise caution when dealing in the company`s securities until a further announcement is made. Johannesburg 1 April 2011 Designated Advisor Arcay Moela Sponsors (Pty) Ltd Date: 01/04/2011 07:53:01 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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