Bonatla Property Holdings Limited - Renewal Of Cautionary Announcement
Release Date: 07/12/2017 17:44:00 Code(s): BNT
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
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
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. 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
• Negotiations for the acquisition of rental properties in Mozambique are being
• 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
(iii) the Kinfedi Agreement detailed in paragraph 4 above.
By order of the board
7 December 2017
Arbor Capital Sponsors Proprietary Limited
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