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Renewal of Cautionary Announcement
BONATLA PROPERTY HOLDINGS LIMITED
(Registration number 1996/014533/06)
Share code: BNT ISIN: ZAE000013694
(”Bonatla” or “the Company”)
RENEWAL OF CAUTIONARY ANNOUNCEMENT
1. Introduction
Shareholders are referred to the previous renewal of cautionary announcements,
the last of which was dated 23 March 2017, and are advised that certain
negotiations referred to therein are still in progress or financial information is
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. Due to on-going negotiations this
assessment has still not been finalised, but will be provided to the JSE in due
course. In the interim, the Company has commenced with the preparation of the
circular to shareholders which will include details of all previously announced
transactions and new transactions, which will address compliance with the JSE
Listings Requirements.
2. Financial information still to be announced
- Share-swap agreement for Kimberley Diamond and Jewellery Hub announced
on 5 May 2014; and
- Share-swap agreement for Lincoln Meade Park announced on 5 May 2014.
3. Discussions and on-going negotiations
- A potential joint venture transaction by CPTech Proprietary Limited in Southern
Africa and Mozambique;
- Negotiations for the acquisition of rental properties in Mozambique are being
finalised;
- Acquisition of 75.1% in a special purpose vehicle to be formed for the Jozini
acquisition as previously announced, which negotiations have been extended
to a strategic interest the Jozini Tiger Fish Lodge and the Jozini Estate
development;
- Negotiations on various other income-producing property portfolios;
- Negotiations to restructure the Kimberley Diamond Hub transaction with the
Government of the Northern Cape are being finalised; and
- Negotiations to restructure the Lincoln Meade transaction with the Msunduzi
Municipality are being finalised.
4. Update on the loan agreement, underwriting agreement and intended rights offer
with the Kinfedi Consortium (“Kinfedi Agreement”) and other funding
arrangements
Shareholders are referred to the announcement of the Kinfedi Agreement
released on SENS on 23 December 2016, wherein it was noted, inter alia, that the
R800m of funding to be made available through the loan facility is expected to
be available for draw down by the end of January 2017. ,It was further
announced that the effective date of the Kinfedi Agreement had been
amended to 30 April 2017, however, the draw down date of the agreement is in
the process of being extended due to delays in the receipt of funding by Kinfedi
due to third party regulatory compliance. The Company has also taken steps for
alternate funding arrangements which have already started to materialise.
5. Renewal of Cautionary Announcement
Shareholders are advised to continue exercising caution in dealing in the
Company’s securities until further announcements are made detailing:
(i) the outstanding financial information detailed in paragraph 2 above;
(ii) the on-going discussions and/or negotiations detailed in paragraph 3
above; and
(iii) the Kinfedi Agreement detailed in paragraph 4 above.
By order of the board
10 May 2017
SPONSOR
Arbor Capital Sponsors Proprietary Limited
Date: 10/05/2017 05:16:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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