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Update in respect of the Acquisition of Waterfall Development Rights and Posting of Transaction Circular
BALWIN PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/028851/06)
Share code: BWN
ISIN: ZAE000209532
("Balwin" or "the Company")
UPDATE IN RESPECT OF THE ACQUISITION OF WATERFALL DEVELOPMENT RIGHTS AND
POSTING OF TRANSACTION CIRCULAR
Shareholders are referred to the announcement released by Balwin on the Stock Exchange News Service
on 14 December 2015 (the “Announcement”) regarding the conclusion by Balwin of a non-binding
conditional agreement for the acquisition of development rights in Johannesburg’s Kyalami / Waterfall node
(the “Proposed Acquisition”).
Balwin is still in the process of finalising the formal legal agreements, which process includes the finalisation
of project feasibility and build assessments. The material terms of the Proposed Acquisition remain
consistent with those set out in the Announcement. As a result, a circular setting out the terms of the
Proposed Acquisition, including, inter alia, a notice of general meeting to convene a meeting of Balwin
shareholders is now expected to be posted by no later than 31 May 2016.
Johannesburg
25 February 2016
Sponsor
Investec Bank Limited
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