IFA HOTELS AND RESORTS LIMITED - Extention of timeline for fulfilment of the conditions precedent and a further cautionary announcement

Extention of timeline for fulfilment of the conditions precedent and a further cautionary announcement

IFA Hotels & Resorts Limited
Registration number 1919/001318/06
Share code: IFH
ISIN: ZAE000075669
("IFA" or "the Company)


Extension of timeline for the fulfilment of the conditions
precedent relating to the disposal of all shares and claims in
Boschendal (Pty) Limited  held by IFA Boschendal Investments
(Pty) Limited a 100% owned subsidiary of IFA (being a 37.33%
beneficial interest in Boschendal) to Canombys Limited and a
further cautionary announcement.


1. Timeline extension
IFA shareholders are referred to the detailed terms announcement
published on SENS on 20 July 2012 (“the Announcement”) regarding
the Disposal by IFA Boschendal Investments (Pty) Limited (“IFA
Boschendal”) in terms of which Canombys Limited (“Canombys”)
will acquire, as one indivisible transaction, all of IFA
Boschendal’s shares and claims in Boschendal (“the Transaction”)
from IFA Boschendal.


The timeline for the fulfilment of the conditions precedent set
out in paragraph 2.4 of the Announcement has been extended by
mutual agreement between IFA Boschendal and Canombys to 15
August 2012.


2. Further cautionary announcement
IFA Shareholders are also advised that the cautionary
announcement contained in the Announcement is hereby extended
and IFA shareholders are therefore advised to continue to
exercise caution when dealing in the Company’s securities until
a further announcement is made.


Zimbali
8 August 2012
Sponsor: Sasfin Capital (a division of Sasfin Bank Limited)
Legal Advisor: Larson Falconer Incorporated
Corporate Advisor: DEA-RU (Pty) Ltd

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