SBL - Sable Holdings Limited - Disposal of various Investment Properties and a

SBL - Sable Holdings Limited - Disposal of various Investment Properties and a  
cautionary announcement                                                         
SABLE HOLDINGS LIMITED                                                          
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)                                  
(REGISTRATION NUMBER 1968/010636/06)                                            
("SABLE")                                                                       
SHARE CODE: SBL           ISIN: ZAE000006383                                    
DISPOSAL OF VARIOUS INVESTMENT PROPERTIES AND A CAUTIONARY ANNOUNCEMENT         
1.   Introduction                                                               
    Shareholders are advised that Sable, through its wholly own subsidiary,     
    Sable Place Properties 106 Proprietary Limited ("the seller"),  has entered 
into a Sale of Letting Enterprise Agreement ("the Agreement") with Erf 712  
    Fairland Proprietary Limited ("the Purchaser") in terms of which the seller 
    will dispose of Erf 712, Portion 1 of Erf 713 and the Remaining Extent of   
    Erf 713 ("the Property") situated in Fairland Township for a consideration  
of R16,850 000 (the Consideration") to the Purchaser("the Disposal").       
2.   Settlement of the Consideration                                            
    The Consideration will be settled in cash on the effective date, being the  
    date of registration of transfer of the Property into the name of the       
Purchaser.                                                                  
3.   Rationale for the Disposal                                                 
    The rationale for the Disposal, is to take advantage of a strong market     
    related offer.                                                              
4.   Suspensive conditions                                                      
    The Disposal is subject to the fulfillment of the following suspensive      
    conditions:                                                                 
    -    Completion of a due diligence to the satisfaction of the Purchaser     
within 21 days of the seller furnishing the Purchaser with the         
         relevant information; and                                              
    -    The Purchaser obtaining a loan to settle the Consideration within 20   
         days of the date of completion of the due diligence.                   
5.   Categorisation of the disposals                                            
    The disposal is categorised as a Category II transaction in terms of the    
    JSE Limited ("the JSE") Listings Requirements.                              
6.   Cautionary announcement                                                    
Shareholders are advised that until the results of the due diligence is     
    known to the Sable board of directors, and accepted, and a full terms       
    announcement is made which will include specific information relating to    
    the Property, the subject of the disposal, and the financial effects of the 
Disposal are released, if applicable, they should exercise caution when     
    dealing in their Sable securities on the JSE.                               
26 January 2012                                                                 
Designated Advisor                                                              
Sasfin Capital                                                                  
(A division of Sasfin Bank Limited)                                             
Date: 26/01/2012 09:50:56 Supplied by www.sharenet.co.za                     
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