PEMBURY LIFESTYLE GROUP LIMITED - Update announcement relating to a property in Pinetown

Update announcement relating to a property in Pinetown

PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“PL Group” or “the Company”)
ISIN Code: ZAE000222949      JSE Code: PEM


UPDATE ANNOUNCEMENT RELATING TO THE ACQUISITION OF A BUSINESS AND PROPERTY IN PINETOWN
(“THE ACQUISITION”)


1.   Background
     PL Group shareholders are referred to the announcement published on 30 November 2017 wherein
     they were advised that PL Group, has, through its wholly-owned subsidiaries, PLG Retirement
     Villages (Pty) Ltd (“Business Purchaser”) and PLG Properties (Pty) Ltd (“Property Purchaser”) entered
     into two separate agreements for the acquisition of the business (“Business”) and the property
     ("Property”) on which a retirement village and nursing home are located, for R3 000 000 and
     R33 000 000 respectively.

     Following the publication of the aforementioned announcement, the separate agreements
     relating to the sale of the Business and the Property were amended by way of separate addenda
     to include a per share price used to determine the number of shares to be issued in partial
     settlement of the consideration to be paid for the Business and the Property. Accordingly, the
     consideration for both the Business and Property will be settled as set out below:

     The Business
     - R1 000 000 will be settled in cash by way of a bank loan; and
     - R2 000 000 will be settled through the issue of 4 761 905 PL Group ordinary shares at an issue price
        of 42 cents per share.

     The Property
     - R19 000 000 will be settled in cash against the registration of the property in PLG Properties’
        name, which payment shall be secured by way of a bank loan; and
     - R14 000 000 will be settled through the issue of 33 333 334 PL Group ordinary shares at an issue
        price of 42 cents per share.

2.   Conditions precedent
     The Acquisition remains subject to conditions precedent as previously announced.

3.   Financial Information
     The net asset value and the profit attributable to the Business remain outstanding as at the date of
     this announcement and will be published in due course.

4.   Update on categorisation information
     The Acquisition is classified as a category 2 transaction in terms of the JSE Listings Requirements, as
     a result, shareholder approval is not required.
 5.   Renewal of cautionary announcement
      Shareholders are referred to the renewal of cautionary announcement dated 18 January 2018 and
      are advised that negotiations relating to potential acquisitions of additional retirement assets
      remain on-going and financial information of the Business as mentioned in paragraph 3 above
      remains outstanding.

      Accordingly, shareholders are advised to continue to exercise caution when dealing in the
      Company’s securities until a further announcement is made.




BY ORDER OF THE BOARD
22 January 2018
Johannesburg


Designated Advisor
Arbor Capital Sponsors Proprietary Limited

Date: 22/01/2018 05:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.