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Update on reverse listing and acquisitions and renewal of cautionary announcement
Ardor SA Limited
(formerly Decillion Limited)
(Registration number: 1998/011692/06)
(Incorporated in the Republic of South Africa)
JSE code: ARD ISIN: ZAE000165569
("Ardor" or "the Company")
UPDATE ANNOUNCEMENT ON THE REVERSE LISTING OF ARDOR AND THE VARIOUS
ACQUISITIONS AND RENEWAL OF CAUTIONARY ANNOUNCEMENT
Further to the announcement on 19 November 2012, the Company advises that it is still in the
process of securing cash from various subscribers in order to provide guarantees to enable the
transfer of various properties to Ardor. In addition to the above subscriptions, Ardor has recently
secured a subscription for the amount of R359 500 000 from a European based private equity
investment company. The investment company confirmed that it is in the process of finalising its
banking processes in order to make the investment. The receipt of the investment is expected
within the next 14 days.
On receipt of the investment Ardor will proceed to acquire the minimum portfolio and unsuspend
the trade in the shares of the company on the Johannesburg Stock Exchange (“JSE”).
Shareholders and investors are reminded that the listing remains subject to the transfer of the
minimum portfolio.
Following the recent announcement of the new proposed tax legislation for Real Estate Investment
Trusts (“REIT’s”), Ardor has decided to obtain advice to establish the benefits of having the
company classified as a REIT in terms of section 25BB of the Income Tax Act, No. 58 of 1962, as
amended, and as to be contemplated in the Listing Requirements of the JSE.
The salient dates for the issue and listing of the new shares in Ardor to be allotted and issued
pursuant to the acquisition of the minimum portfolio will be announced once the transfer of the
minimum portfolio has been finalised.
As previously announced investors and/or shareholders are permitted to continue to subscribe for
shares up to the date of the listing of the securities to be allotted and issued pursuant to the
acquisition of the minimum portfolio. The Company has received interest well in excess of the
R360 million minimum subscription, . The board of Ardor still has to finalise negotiations in respect
of these subscriptions. The Company will keep shareholders informed of progress made, the final
results of the subscription and new salient dates.
Due to the revival negotiations previously announced and the requirement for the minimum
portfolio to be transferred to the Company ahead of the reverse listing of Ardor, shareholders are
advised to continue to exercise caution when dealing in their shares until a further announcement
is made.
Johannesburg
09 January 2013
SPONSOR
Arcay Moela Sponsors Proprietary Limited
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