BONATLA PROPERTY HOLDINGS LIMITED - Renewal of Cautionary Announcement

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 26 October 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 (see 3 below); and
  • Share-swap agreement for Lincoln Meade Park announced on 5 May 2014 (see
    3 below).

3. Discussions and on-going negotiations

  • A potential joint venture transaction by CPTech Proprietary Limited in Southern
    Africa and Mozambique, including the expansion and recapitalisation of the
    CPTECH business;
  • Negotiations for the acquisition of rental properties in Mozambique are being
    finalised;
  • 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 original Lincoln Meade transaction with the
    Msunduzi Municipality are proceeding.

4. Loan Agreement, underwriting agreement and intended rights offer with the Kinfedi
   Consortium (“Kinfedi Agreement”)

  Shareholders are referred to the Renewal of Cautionary announcement dated 7
  November 2017 wherein it was noted that the Company had requested that the
  Kinfedi Consortium adhere to the terms of the funding agreement and draw down
  certificate by no later than 30 November 2017. To date there has been no progress
  made in this regard. The Company will provide a further update in due to course
  as to the action that it will take.

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
7 December 2017

SPONSOR
Arbor Capital Sponsors Proprietary Limited

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