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BONATLA PROPERTY HOLDINGS LIMITED - Voluntary Update on Suspension

Release Date: 12/04/2017 17:42
Code(s): BNT     PDF:  
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Voluntary Update on Suspension

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


VOLUNTARY UPDATE ON SUSPENSION


In accordance with paragraph 1.6 of the JSE Listings Requirements which deals with
the suspension of a company’s securities by the Johannesburg Stock Exchange
(“JSE”), shareholders are provided with an update on the Company’s status below.

In addition to the Kimberley and Lincoln Mead agreements previously announced,
the Company has entered into agreements for the acquisition of the Ruitersvlei
Property Portfolio and the acquisition of the equity and shareholder loans of Good
Hope Limited, an off-shore company that owns Grand Roche Hotel Proprietary
Limited. All of the above agreements remain subject to the fulfillment of normal
conditions precedent, including shareholder approval. The Company has also
signed and announced a funding agreement with Kinfedi Investments Proprietary
Limited (“Kinfedi”), which funds will be used to underwrite an intended rights offer as
announced on SENS during December 2016 and a drawdown notice has been
issued. The drawdown date has been extended to 30 April 2017.

The Company believes that the above transactions will enable it to meet the
requirements of Section 4.28 of the JSE Listings Requirements following the conclusion
of the above and previously announced transactions.

The Company is making progress with the drafting of the Circular to shareholders
regarding, inter alia, the information regarding the acquisition of the Bluezone
portfolio and other previously announced transactions. The Company remains in the
process of finalising the publication of overdue results, which it expects to achieve
during the second quarter of 2017.

As separately announced, shareholders are still required to exercise caution when
dealing in the Company’s shares.

By order of the board

Johannesburg
12 April 2017


Sponsor
Arbor Capital Sponsors Proprietary Limited

Date: 12/04/2017 05:42:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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