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LIBERTY HOLDINGS LIMITED - Voluntary Announcement by Liberty Holdings Ltd Relating to the Disposal of Greenacres Shopping Centre by Liberty Gro

Release Date: 21/10/2013 14:02
Code(s): LBH     PDF:  
Wrap Text
Voluntary Announcement by Liberty Holdings Ltd Relating to the Disposal of Greenacres Shopping Centre by Liberty Gro

  

Liberty Holdings Limited 

Registration number 1968/002095/06 

Incorporated in the Republic of South Africa 

Share code: LBH 

ISIN code: ZAE0000127148 

("Liberty Holdings" or "the Company") 

VOLUNTARY ANNOUNCEMENT BY LIBERTY HOLDINGS LTD RELATING TO THE DISPOSAL OF 
GREENACRES SHOPPING CENTRE BY LIBERTY GROUP LTD TO ACUCAP PROPERTIES LTD ("ACUCAP") 
AND SYCOM PROPERTY FUND (“SYCOM”)  

Shareholders are advised that Liberty Group Ltd, a wholly?owned division of Liberty Holdings, has 
entered into a transaction with respect to the disposal of Greenacres shopping centre in an 
undivided 50% share each to Acucap and Sycom for the disposal consideration of just over R1bn. 
Anticipated transfer is expected during the first quarter of 2014. 

The aforementioned companies have made formal announcements today on SENS, therefore 
additional details are provided for in the respective announcements. 

This transaction supports Liberty’s strategy of becoming the leading wealth management company 
on the African continent, as there are numerous initiatives that are currently being considered as 
part of the Direct Property investment strategy. These will include the upgrade, restructure and 
acquisition of assets within the Portfolio that management believe will in time benefit investors. 

The disposal is still subject to competition commission approvals in South Africa. 

21 October 2013 

Sponsor: 

Merrill Lynch South Africa (Pty) Ltd 

Date: 21/10/2013 02:02:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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