QPG - Quantum Property Group Limited - Update to Shareholders regarding Business

QPG - Quantum Property Group Limited - Update to Shareholders regarding Business
Rescue Application Proceedings                                                  
QUANTUM PROPERTY GROUP LIMITED                                                  
Incorporated in the Republic of South Africa                                    
(Registration number 1984/002788/06)                                            
Share code: QPG   ISIN: ZAE000125647                                            
("QPG")                                                                         
UPDATE TO SHAREHOLDERS REGARDING BUSINESS RESCUE APPLICATION PROCEEDINGS        
Application initiated by ABSA                                                   
Shareholders are referred to the announcement released on SENS on Wednesday, 13 
June 2012, regarding the resolution which was filed with the Companies and      
Intellectual Property Commission ("CIPC") on Wednesday, 6 June 2012 by the board
of directors of A Million Up Investments 105 Proprietary Limited ("AMU"), a     
wholly-owned subsidiary of QPG, to place AMU under business rescue as a         
consequence of the required payment to Absa Bank Limited ("ABSA") in the amount 
of R581 420 062.04.                                                             
An application had been initiated by ABSA, which was heard in the Western Cape  
High Court on Friday, 15 June 2012, to set aside the resolution taken by the    
board of AMU, to voluntarily commence business rescue proceedings and to place  
AMU under supervision, thus declaring such resolution to be of no force or      
effect ("Application").                                                         
Shareholders are advised that the Application by ABSA was successful and hence  
AMU has been discharged from business rescue.                                   
Sandton                                                                         
15 June 2012                                                                    
Designated Adviser                                                              
Merchantec Capital                                                              
Date: 15/06/2012 17:42:01 Supplied by www.sharenet.co.za                     
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