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BONATLA PROPERTY HOLDINGS LIMITED - Partial Withdrawal of Cautionary Announcement & Renewal of Cautionary Announcement

Release Date: 05/04/2016 08:28
Code(s): BNT     PDF:  
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Partial Withdrawal of Cautionary Announcement & Renewal of Cautionary Announcement

BONATLA PROPERTY HOLDINGS LIMITED
(Registration number 1996/014533/06)
Share code: BNT ISIN: ZAE000013694
(”Bonatla” or “the Company”)


PARTIAL WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT AND RENEWAL OF
CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the previous cautionary announcement, the last of
which was dated 18 February 2016, and are advised that certain negotiations
referred to therein are still in progress, or financial information is still required to be
announced.

The JSE requires that the Company needs to address its current compliance with
paragraph 4.28 of the JSE Listings Requirements. 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 on-going
negotiations this assessment has still 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 previously announced transactions.

The Company remains under cautionary in relation to the matters listed below:

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 Ruitersvlei;
- 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 commercial property portfolio.

Partial withdrawal of cautionary announcement
Shareholders are advised that Bonatla will no longer be pursuing the acquisition of
75.1% in a special purpose vehicle that was to be formed for the Jozini acquisition.

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
5 April 2016

SPONSOR
Arbor Capital Sponsors Proprietary Limited

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