TREMATON CAPITAL INVESTMENTS LTD - Acquisition of a 50% interest in various sectional title units in North Gate Island, Cape Town

Acquisition of a 50% interest in various sectional title units in North Gate Island, Cape Town

Trematon Capital Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/008691/06
Share code: TMT
ISIN: ZAE000013991
("Trematon" or "the company")



ACQUISITION OF A 50% INTEREST IN VARIOUS SECTIONAL TITLE UNITS IN
NORTHGATE ISLAND, CAPE TOWN AND WITHDRAWAL OF CAUTIONARY
ANNOUNCEMENT

1.    Introduction

Shareholders are referred to the cautionary announcement dated 20 June 2014 and
are advised that Trematon via the Tremtrust 1 Trust, a trust which is 50% held by
Trematon’s 67% held subsidiary, Arbitrage Property Fund (Pty) Ltd and 50% held by
Buffet Investment Services (Pty) Ltd (“Tremtrust”), has entered into agreements in
terms of which it has acquired fourteen units in the corporate sectional title
development scheme known as Northgate Island (“the units”) from various
vendors(“the acquisition”).

2.    Details of the units

The units are situated in Northgate Island, at the corner of Koeberg Road and Section
Street, Cape Town, and comprise sectional title retail and office space units totalling
15 199 square metres.


3.    Rationale for the acquisition

The company identified the acquisition as an appropriate investment in terms of the
strategy of the Trematon group, which is to grow its portfolio of long term investment
properties through the acquisition of well-located properties where the company can
add value by unlocking the full commercial potential of the asset.

3.    Terms of the acquisition

3.1   The vendors

The units have been purchased from the following individual vendors (“the vendors”):

Bloomberg Highway Park (Pty) Ltd, Bloomberg Lifestyle Properties (Pty) Ltd, H&F
Golf CC, Valuline 152 (Pty) Ltd, Plusko 192 (Pty) Ltd, Sunrock Trading CC, Blowfish
Investments 117 (Pty) Ltd, Yellow Thunder Properties No 62 (Pty) Ltd, 121 Northgate
Island (Pty) Ltd, Ceiprop Holdings (Pty) Ltd and DIY Property Investment CC.
                                                                                         2
None of the vendors are related parties in terms of the Listings Requirements of the
JSE.

3.2    Terms and purchase consideration

Tremtrust has acquired the units for a combined purchase price of R107 302 372 or
R7 060 per square metre acquired, payable to the vendors in cash on the effective
date.

Trematon’s portion of the investment is R53 651 186 which represents its 50%
interest in Tremtrust (“the purchase consideration”).

The purchase consideration will be funded by a combination of cash and borrowings.

The only condition precedent to the acquisition is the completion of a due diligence
process which is normal for a transaction of this nature.

4.     Effective date

The effective date of the acquisition is the date of transfer of the units into the name of
Tremtrust which is expected to be on or about 1 October 2014.

5.     Financial effects

The acquisition will not have a significant effect on the earnings and headline
earnings or net asset value and tangible net asset value of the company.

6.     Withdrawal of the cautionary announcement

 Having regard to the information published in this announcement caution is no
longer required by shareholders when dealing in their securities.

7.     Categorisation

This announcement is published in terms of the JSE Listings Requirements as the
acquisition constitutes a category 2 transaction for the company.


25 June 2014

Cape Town



Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
(a division of Sasfin Bank Limited)

Date: 25/06/2014 01:00:00 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.