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Renewal of Cautionary Announcement
BONATLA PROPERTY HOLDINGS LIMITED
(Registration number 1996/014533/06)
Share code: BNT ISIN: ZAE000013694
(”Bonatla” or “the Company”)
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the previous cautionary announcements dated
6 March 2013, 22 April 2013, 5 July 2013, 8 July 2013, 19 August 2013, 1 November
2013, 4 November 2013, 17 December 2013, 31 January 2014, 21 February 2014,
5 May 2014, 17 June 2014, 30 June 2014, 11 August 2014, 22 September 2014,
3 November 2014, 15 December 2014, 30 January 2015, 13 March 2015, 24 April 2015,
9 June 2015, 22 July 2015 and 3 September 2015 respectively, and are advised that
certain negotiations referred to therein are still in progress, or pro forma financial
effects are still required to be announced.
On 1 June 2015 the Company submitted a ruling for the JSE to consider in this
regard. The company also submitted a request for ruling in terms of categorisation
of transactions in order to gain some guidance as to the various transactions
contracted over the past five years, partly to be able to respond to the JSE on the
above request.
The JSE has responded that the company should first address its current compliance
with paragraph 4.28 of the JSE Listings Requirements as mentioned above.
Once the Company has responded in accordance with paragraph 4.28 of the JSE
Listings Requirements, the Company will then be able to properly assess its status.
Due to current negotiations this assessment has not been finalised but will be
provided to the JSE in due course.
Thereafter, the Company expects it will be able to proceed with the Circular to
shareholders regarding, inter alia, the acquisition of the Bluezone portfolio and other
previously announced transactions. The Company has the required irrevocable
undertakings in place to effect these transactions and also secured these at the
time of the transactions.
Details of these are summarised as follows:
Financial information still to be announced:
- Disposal of Bishops Court announced on 17 May 2013;
- Disposal of Austin Crossing announced on 17 May 2013;
- Acquisition of an increased shareholding in CPTech from related parties
announced on 17 May 2013;
- Disposal of Chambers announced on 21 February 2014;
- Disposal of Tropical 320 announced on 21 February 2014;
- Disposal of Tropical 334 announced on 21 February 2014;
- Share Swap Agreement for Kimberley Diamond and Jewellery Hub announced
on 22 September 2014; and
- Share Swap Agreement for Lincoln Meade Park announced on 22 September
2014.
On-going discussions and/or negotiations:
- Acquisition of 75.1% in a special purpose vehicle to be formed for the Jozini
acquisition; and
- Acquisition of Ruitersvlei;
New negotiations:
- Potential disposal of Nungu;
- A potential joint venture transaction with CPTech Proprietary Limited in Southern
Africa and Mozambique;
- Negotiations for the acquisition of rental properties in Belize and Mozambique;
and
- Negotiations on a R900 million ungeared commercial property portfolio.
Shareholders are advised to continue to exercise caution in dealing in their
Company’s securities until an announcement detailing the financial information on
the above transactions is made and until further announcements are made
regarding the on-going discussions and/or negotiations detailed above.
By order of the board
15 October 2015
SPONSOR
Arbor Capital Sponsors Proprietary Limited
Date: 15/10/2015 05:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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