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Update on the acquisition of 50% of the shares in Buffalo Mall Naivasha Limited
THE PIVOTAL FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/030215/06)
JSE share code: PIV ISIN: ZAE000196440
(“Pivotal” or “the company”)
UPDATE ON THE ACQUISITION OF 50% OF THE SHARES IN BUFFALO MALL NAIVASHA LIMITED
Shareholders are referred to the announcement released on SENS on 15 February 2016 relating to the acquisition of
50% of the issued share capital of Buffalo Mall Naivasha Limited from Abland Proprietary Limited and Carlisle
Property Holdings Limited (the “acquisition”).
BDO Corporate Finance Proprietary Limited (“BDO”), who were appointed as the independent expert by Pivotal,
have concluded that the terms of the acquisition are fair to Pivotal shareholders. As required in terms of section
10.7(b) of the JSE Listings Requirements, the board of Pivotal hereby confirms that it is of the opinion that the
acquisition is fair insofar as shareholders are concerned, having regard to the BDO fairness opinion, and the
acquisition will now be implemented. Copies of the BDO fairness opinion will be available for inspection at Pivotal’s
offices (Abcon House, Fairway Office Park, 52 Grosvenor Road, Bryanston, 2021) for a period of 28 days from the
date of this announcement.
9 March 2016
Corporate advisor and sponsor
Java Capital
Date: 09/03/2016 02:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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