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Acquisition of distribution warehouse based in the UK
Atlantic Leaf Properties Limited
(Incorporated in the Republic of Mauritius)
(Registration Number: 119492 C1/GBL)
SEM share code: ALPL.N0000
ISIN: MU0422N00009
JSE share code: ALP
www.atlanticleaf.co.za
(“Atlantic Leaf” or the “Company”)
ACQUISITION OF DISTRIBUTION WAREHOUSE BASED IN THE UK
INTRODUCTION
Shareholders are advised that, on 20 October 2016, Atlantic Leaf, through its subsidiary Hyder
Limited (together “Atlantic Leaf”), concluded agreements to acquire a distribution warehouse at
Aston Lane North, Preston Brook, Runcorn, United Kingdom (the “Property”) from OXW Catalina
(Logistics) Limited (the “Sellers”) (the “Transaction”).
RATIONALE FOR THE TRANSACTION
The acquisition of the Property is consistent with Atlantic Leaf’s strategy of investing in high quality,
investment grade real estate assets which deliver suitable returns for investors through both income
and capital growth.
Preston Brook, Runcorn, is a well-established UK distribution location, strategically situated between
Manchester and Liverpool, with good access to the M56 motorway, which in turn provides excellent
entry to the M6 and the wider North West region of the country. The Port of Liverpool is
approximately 14 miles away, where construction is nearing completion on a new container port,
which will be capable of bringing some of the world’s largest container ships into the North West
region.
The Property comprises a well specified and fully-fitted distribution facility with ancillary offices and
extensive parking over approximately 30.2 acres, with a rental area of 651,409 sq. ft. (60,518 sq. m.).
The Property is fully let to DHL Supply Chain Limited, a wholly owned subsidiary of the Frankfurt
Stock Exchange listed, Deutsche Post AG Group.
SALIENT TERMS OF THE TRANSACTION AND CONDITION PRECEDENT
The purchase price for the Transaction is GBP 27,400,000 (excluding transaction related costs). This
amount in addition to transaction related costs will be settled through a combination of cash and/or
debt funding.
The definitive legal agreements relating to the Transaction contain warranties that are typical for a
transaction of this nature. The effective date of the Transaction is expected to be 25 November 2016.
DETAILS OF THE PROPERTY
Key property specific information regarding the Property is set out below:
Property location Preston Brook, Runcorn, United Kingdom
Valuation GBP 27,400,000
Sector Industrial
Tenant DHL Supply Chain Limited
Rentable area 60,518 sq. m. (651,409 sq. ft.)
Rental income (p.a.) GBP 1,827,000.00
Rental per square metre GBP 30.19
Rental per square foot GBP 2.80
Lease expiry (years) 8.2
Net initial yield 6.2%
Transaction related costs GBP 2,045,410 (including stamp duty)
The board of directors of Atlantic Leaf is satisfied that the aggregate value attributed to the Property is
in line with the purchase consideration being paid by Atlantic Leaf. The directors of the company are
not independent and are not registered as professional valuers or as professional associate valuers in
terms of the Property Valuers Profession Act, No 47 of 2000.
CATEGORISATION OF THE TRANSACTION
The Transaction is classified as a category 2 transaction in terms of paragraph 9.5(a) of the JSE
Listings Requirements and accordingly does not require approval by Atlantic Leaf’s shareholders. The
Transaction constitutes an undertaking in the ordinary course of business of Atlantic Leaf and
therefore does not fall under the scope of Chapter 13 of the SEM Listing Rules.
Atlantic Leaf has its primary listings on both the Official Market of the SEM Limited and the
Alternative Exchange of the JSE.
By order of the board.
21 October 2016
For further information please contact:
South African JSE sponsor
Java Capital +27 11 722 3050
South African corporate advisor
Leaf Capital +27 21 657 1180
Corporate secretary
Intercontinental Trust Limited +230 403 0800
SEM authorised representative and sponsor
Perigeum Capital Ltd +230 4020890
This notice is issued pursuant to the JSE Listings Requirements, SEM Listing Rule 11.3 and the
Mauritian Securities Act 2005. The Board of Directors of Atlantic Leaf Properties Limited accepts
full responsibility for the accuracy of the information contained in this announcement.
Date: 21/10/2016 10:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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