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KDV - Kaydav Group Limited - Kaydav subsidiary acquires property letting enterprise KAYDAV GROUP LIMITED Incorporated in the Republic of South Africa (Registration number 2006/038698/06) JSE code: KDV & ISIN: ZAE000108940 ("the group" or "KayDav") KAYDAV SUBSIDIARY ACQUIRES PROPERTY LETTING ENTERPRISE INTRODUCTION Shareholders are advised that KayDav`s wholly-owned subsidiary, Sign and Seal Trading 154 (Pty) Ltd ("Sign and Seal") has concluded an agreement for the acquisition of a property letting enterprise and related immovable property situate at the remainder of Erf 1301, Ottery, Cape Town, Cape Division, also known as Hi Tech Park, Bamboesvlei Road, Ottery, Cape Town (the "immovable property") (collectively the "business") from I Foster Properties CC (the "seller") (the "acquisition") TERMS OF THE ACQUISITION AND SUSPENSIVE CONDITIONS The total purchase price payable by Sign and Seal for the business is R 13 850 000, which amount includes VAT levied at a rate of 0% (the "purchase price"). The effective date in respect of the acquisition shall be the date of registration of transfer of ownership of the immovable property into the name of Sign and Seal (the "effective date"). The sum of R 1 385 000 will be paid by Sign and Seal as a cash deposit and will be held in trust by the seller`s conveyancers until the effective date. The balance of the purchase price will be discharged in cash on the effective date. The acquisition is subject to the suspensive condition that Sign and Seal is granted a loan for a minimum amount of R 9 695 000, by a financial institution upon security of a first mortgage bond to be passed over the immovable property within a period of 15 business days from 20 March 2012. THE BUSINESS The business is a property letting enterprise (together with the related immovable property) which lets the relevant premises to Evertrade 168 (Pty) Ltd, a wholly-owned subsidiary of KayDav. RATIONALE FOR THE ACQUISITION Sign and Seal is acquiring the business in order to secure the KayDav group`s tenure of the premises which currently houses its head office as well as its Ottery warehouse. CATEGORISATION OF THE ACQUISITION The acquisition is classified as a Category 2 transaction in terms of the JSE Listings Requirements. The acquisition is not subject to the approval of KayDav`s shareholders. FINANCIAL EFFECTS AND CAUTIONARY The financial effects of the acquisition are still in the process of being finalised and will be published in due course. Shareholders of Kaydav are advised to exercise caution when dealing in their shares until the financial effects of the acquisition are announced. 23 March 2012 Sponsor Java Capital Date: 23/03/2012 16:08:01 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.
