BONATLA PROPERTY HOLDINGS LIMITED - Partial Withdrawal and Renewal of Cautionary Announcement

Release Date: 23/01/2018 15:51
Code(s): BNT
 
Wrap Text
Partial Withdrawal and Renewal of Cautionary Announcement

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


PARTIAL WITHDRAWAL AND RENEWAL OF CAUTIONARY ANNOUNCEMENT


1. Introduction

  Shareholders are referred to the previous renewal of cautionary announcements,
  the last of which was dated 7 December 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.

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 including the substitution of the
    development site.
4. Partial withdrawal of cautionary announcement as it relates to the Loan Agreement,
   underwriting agreement and intended rights offer with the Kinfedi Consortium
   (“Kinfedi Agreement”)

  Shareholders are referred to previous announcements regarding the Kinfedi
  Agreement. To date there has not been any progress made in regards to the
  drawdowns and the agreement has been terminated. Kinfedi has re-approached
  the Company and, if discussions progress, an announcement will be made. At this
  point in time the cautionary announcement in respect of Kinfedi is withdrawn.

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; and
  (ii)   the on-going discussions and/or negotiations detailed in paragraph 3
         above.



By order of the board
23 January 2018

SPONSOR
Arbor Capital Sponsors Proprietary Limited

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