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Update On Mauritian Acquisitions
MARA DELTA PROPERTY HOLDINGS LIMITED
(previously Delta Africa Property Holdings Limited)
(Registered by continuation in the Republic of Mauritius)
(Registration number C128881 C1/GBL)
SEM share code: DEL.N0000
JSE share code: MDP
ISIN: MU0473N00028
(“Mara Delta”)
UPDATE ON MAURITIAN ACQUISITIONS
1. INVESTMENT IN BEACHCOMBER HOSPITALITY INVESTMENTS LIMITED (“BHI”)
1.1. Shareholders are referred to the announcement released by Mara Delta on the Stock Exchange News Service
(“SENS”) of the JSE Limited (“JSE”) and the website of the Stock Exchange of Mauritius Ltd (“SEM”) on
18 November 2016 (“Beachcomber Announcement”), advising that Mara Delta, through its wholly?owned
subsidiary, Leisure Property Northern (Mauritius) Limited (“LPNM”), had entered into certain agreements for
the acquisition, following the fulfilment of certain conditions precedent, of a 44.4228% shareholding in BHI,
a wholly?owned subsidiary of New Mauritius Hotels Limited (“NMH”) with Mauritian leisure property assets
(“Beachcomber Transaction”), on the terms detailed in the Beachcomber Announcement. The properties in
question are to be leased back by BHI to NMH in terms of a fifteen year triple net lease.
1.2. Shareholders are advised that, following the fulfilment of the Convertible Loan Conditions Precedent and the
Committed Loan Conditions Precedent, Mara Delta, via LPNM, on 16 December 2016 advanced the
Convertible Loan of EUR 12 500 000 and the required portion of the Committed Shareholder Loan amounting
to EUR 9 000 000 to BHI, such conditions and loans being defined and further detailed in the Beachcomber
Announcement. The Convertible Loan will, following the fulfilment of certain conditions detailed in the
Beachcomber Announcement, be converted into the abovementioned 44.4228% shareholding in BHI.
1.3. Mara Delta has identified the Beachcomber Transaction as an opportunity to partner with NMH, one of the
largest hotel groups in Mauritius, and gain access to leisure property assets in Mauritius with a blue?chip
leisure tenant on a long?term lease, so as strengthen Mara Delta’s portfolio in the leisure asset class in line
with its investment strategy.
2. ACQUISITION OF TAMASSA RESORT
2.1. Shareholders are also referred to Mara Delta’s announcement, released on SENS and on the SEM website on
30 September 2016, regarding the acquisition, through a wholly?owned subsidiary, of a hotel known as
Tamassa Resort, located in Bel Ombre, Mauritius and related rights, with the property in question to be
leased back to the vendor through a ten year triple net lease (“Tamassa Transaction”).
2.2. Shareholders are advised that the Tamassa Transaction is unconditional, save for the following:
2.2.1. approval and clearance from the Ministry of Housing and Lands for the assignment of the leasehold rights
of the vendor to Mara Delta; and
2.2.2. the execution by the Ministry of Housing and Lands and the vendor of an industrial site lease to the
reasonable satisfaction of the Vendor and on terms substantially similar to the existing head lease.
It is anticipated that the final conditions precedent will be fulfilled early in 2017, after which the acquisition
will be implemented immediately.
19 December 2016
PSG Capital Proprietary Limited: JSE sponsor and corporate advisor to Mara Delta
Perigeum Capital: SEM authorised representative and sponsor to Mara Delta
Directors: Sandile Nomvete (chairman), Bronwyn Anne Corbett*, Peter Todd (lead independent), Chandra Kumar
Gujadhur, Ian Macleod, Leon van de Moortele* and Jacqueline Roxanne van Niekerk
(*executive director)
Company secretary: Intercontinental Fund Services Limited
Registered address: C/o Intercontinental Fund Services Limited, Level 5, Alexander House, 35 Cybercity, Ebène 72201,
Mauritius
Transfer secretary (South Africa): Computershare Investor Services Proprietary Limited
Registrar and transfer agent (Mauritius): Intercontinental Secretarial Services Limited
Corporate advisor and JSE sponsor: PSG Capital Proprietary Limited
Sponsoring Broker: SBM Securities Ltd
SEM authorised representative and sponsor: Perigeum Capital Ltd
This Notice is issued pursuant to the JSE Listings Requirements, SEM Listing Rule 11.3 and the Securities Act of
Mauritius 2005.
The board of directors of the Company accepts full responsibility for the accuracy of the information contained in this
communiqué.
Date: 19/12/2016 12:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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