Freedom Property Fund Limited - Cancelation Of Disposal Of West Park Palms Situated On Erf 5679 Kroonstad (extension 50)
Release Date: 14/02/2018 12:41:00 Code(s): FDP
CANCELATION OF DISPOSAL OF WEST PARK PALMS SITUATED ON ERF 5679 KROONSTAD (EXTENSION 50)
Freedom Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2012/129186/06)
Share code: FDP
(“Freedom” or the “Company” or the “Group”)
CANCELATION OF DISPOSAL OF WEST PARK PALMS SITUATED ON ERF 5679 KROONSTAD
Shareholders are referred to the announcement released on the Securities Exchange
News Services on 6 September 2016, advising that a wholly owned subsidiary of
Freedom, Ivory Sun Trading 115 Proprietary Limited (the “Seller”) had entered
into a sale agreement (“Sale Agreement”) with K2016357129 (South Africa)
Proprietary Limited trading as Global Kingdom Business International (the
“Purchaser”) in terms of which the Purchaser agreed to acquire (the “Sale”) Erf
5679 (Extension 50) in the district of Kroonstad in the Orange Free State (the
“Property”), for a total consideration of R6,000,000.00 (six million Rand) in
cash (“Cash Consideration”).
Shareholders are advised that a condition precedent to the Sale, the raising of
a private loan facility (the “Loan Facility”) by the Purchaser, has not been met.
Consequently, Freedom has exercised its right under the Sale Agreement, to cancel
Aligned with the Company’s announced strategy to sell off non-core assets,
sectional title has been registered over the 16 units on the Property, each of
which will now be sold by the Company on an individual basis.
14 February 2018
Bravura Capital Proprietary Limited
Date: 14/02/2018 12:41:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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