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BONATLA PROPERTY HOLDINGS LIMITED - Update on Kinfedi Loan Agreement and Underwriting Agreement

Release Date: 12/06/2017 10:16
Code(s): BNT     PDF:  
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Update on Kinfedi Loan Agreement and Underwriting Agreement

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


UPDATE ON KINFEDI LOAN AGREEMENT AND UNDERWRITING AGREEMENT


Shareholders are referred to the initial announcement published on 23 December
2016 wherein shareholders were advised that two inter-related agreements had
been signed between Bonatla and Kinfedi Investments Proprietary Limited (“Kinfedi’)
whereby Kinfedi will provide Bonatla or its nominee with a R800 million convertible
loan facility, which funding will be provided by way of approved drawdowns, and
which loan will be used to partially underwrite an intended rights offer at 50 cents
per share in due course.

Kinfedi is involved in a number of contracted initiatives including food security and
green energy projects. Kinfedi has selected Bonatla as one of its strategic partners
due to certain of its existing and proposed investments and initiatives including
CPTech (activated carbon business), Ruitersvlei (agriculture and hospitality)
Kimberley Diamond Hub, Lincoln Mead and Jozini Projects.

Due to the micro economic events that have occurred in South Africa in the last few
months, the finalisation and release of the funding arrangements have taken much
longer than expected. Accordingly, shareholders are advised that the effective
date of the agreement has been extended to 31 July 2017.

The Company remains under cautionary as separately announced.




By order of the board
12 June 2017

SPONSOR
Arbor Capital Sponsors Proprietary Limited

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