Sharenet Sites 
Sharenet Sites
Shareholder Update - Specific Issue of Shares for Cash
SAFARI INVESTMENTS RSA LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2000/015002/06
Approved as a REIT by the JSE Limited
Share code: SAR
ISIN number: ZAE000188280
(“Safari” or “the Company”)
SHAREHOLDER UPDATE - SPECIFIC ISSUE OF SHARES FOR CASH
Shareholders are referred to the SENS announcements released on 19
October 2016 and 17 November 2016, wherein the Company advised that
it had entered into various subscription agreements for the issue in
aggregate of 102 381 576 ordinary shares for cash at a price of R7.60
for a total subscription amount of R778.1 million (“the
Subscription”).
The largest party to the Subscription is Southern Palace Capital
Proprietary Limited (“Southern Palace”), a subsidiary of Southern
Palace Group of Companies Proprietary Limited. In terms of the
Subscription agreements, Southern Palace will subscribe for 66 million
Safari shares at a price of R7.60 per share for a total amount of
R501 600 000, subject to the fulfilment of various conditions
precedent, being inter alia, the confirmation by Southern Palace in
writing to the Company that it has secured the necessary funding.
Shareholders are hereby advised that Southern Palace is in the process
of engaging with three financial institutions which are in the process
of their respective internal funding approval processes.
A circular, including a notice convening the Safari General Meeting,
detailing the terms of the Subscription as well as the action required
of the Company's shareholders will be posted to shareholders once the
Company is satisfied that the abovementioned funding facilities to
Southern Palace have been approved.
Further announcements concerning the relevant dates, including the
date of the Safari General Meeting, pertaining to the Subscription
will be released in due course.
Pretoria
8 March 2017
Corporate Advisor and Sponsor
PSG Capital Proprietary Limited
Southern Palace Share Subscription Deal Originator: DEA-RU
Proprietary Limited
Date: 08/03/2017 04:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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