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TREMATON CAPITAL INVESTMENTS LTD - Acquisition of Redefine North Wharf Cape Town

Release Date: 11/09/2014 12:45
Code(s): TMT     PDF:  
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Acquisition of Redefine North Wharf 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 REDEFINE NORTH WHARF, REMAINING EXTENT OF ERF
149298 CAPE TOWN

1.    Introduction

Shareholders are advised that Trematon via Arbitrage Property Fund (Pty) Ltd
(“Arbitrage”), its 67% held subsidiary, has entered into an agreement in terms of
which it has acquired the remaining extent of Erf 149298 Cape Town known as
Redefine North Wharf, Cape Town (“the property”) from Redefine Properties Ltd.

2.    Details of the property

The property, formerly known as “The Spearhead” is situated at 42 Hans Strijdom
Avenue, Cape Town, and comprises both office and retail space totalling 5,274
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 vendor

The property has been purchased from Redefine Properties Ltd. Redefine is not a
related party in terms of the Listings Requirements of the JSE.

3.2   Terms and purchase consideration

Arbitrage has acquired the property for an amount of R50 506 000 or R9,576 per
square metre acquired (“purchase price”). The purchase price is payable in cash on                                                                                       2
the effective date and will be funded by Arbitrage by a combination of cash and
borrowings.

3.3    Conditions precedent

The acquisition is subject to the completion of a due diligence process which is
normal for a transaction of this nature and the finalisation of suitable finance of a
portion of the purchase price.

4.     Effective date

The effective date of the acquisition is the date of transfer of the units into the name of
Arbitrage which is expected to take place on or about 30 November 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.     Categorisation

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

11 September 2014

Cape Town

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

Date: 11/09/2014 12:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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