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DELTA PROPERTY FUND LIMITED - Intended acquisition of Redefine Properties Limited's Government property portfolio and cautionary announcement

Release Date: 05/11/2015 12:30
Code(s): DLT     PDF:  
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Intended acquisition of Redefine Properties Limited's Government property portfolio and cautionary announcement

Delta Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/005129/06)
Share code: DLT ISIN: ZAE000194049
(“Delta” or “the Company”)
REIT status approved

INTENDED ACQUISITION OF REDEFINE PROPERTIES LIMITED’S (“REDEFINE”) GOVERNMENT
PROPERTY PORTFOLIO AND CAUTIONARY ANNOUNCEMENT



1.   Intended acquisition of Redefine’s government property portfolio




     Delta shareholders are advised that Delta is in advanced discussions with Redefine to
     acquire its government property portfolio. It is envisaged that the purchase
     consideration payable to Redefine will equate to a yield significantly in excess of
     Delta’s current traded yield and will be wholly settled through the issue of Delta
     shares to Redefine, which will have a positive effect on Delta’s current loan to value.
     An announcement containing full details of the intended acquisition will be published
     once the terms have been agreed.


2.   Cautionary announcement


     In light of the above, Delta shareholders are advised to exercise caution when dealing
     in the Company’s securities until a further announcement is made.


5 November 2015
Johannesburg


Investment bank and sponsor
Nedbank CIB

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