BONATLA PROPERTY HOLDINGS LIMITED - Cautionary Announcement in Relation to the Proposed Removal of the Company's Listing

Release Date: 16/02/2018 15:26
Code(s): BNT
 
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Cautionary Announcement in Relation to the Proposed Removal of the Company's Listing

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


CAUTIONARY ANNOUNCEMENT IN RELATION TO THE PROPOSED REMOVAL OF THE COMPANY’S LISTING


Shareholders are advised that the Company, after consultations with the JSE,
received notice from the JSE of the intention to remove the listing of Bonatla due to
the Company’s inability to continue to meet the JSE Listings Requirements.

Pursuant to the Kinfedi transaction not proceeding, and the continued difficulty
experienced by the Company to inject additional assets due to the suspension in
order to meet the requirements of paragraph 4.28 of the JSE Listings Requirements,
the Board of Directors have elected not to object to the JSE’s proposed removal of
the listing. A further consideration is the high cost of compliance whilst the Company
is suspended without the associated benefits of its securities trading on the JSE.

Shareholders are advised that the Company will continue as a public unlisted
company and will maintain a share register with its Transfer Secretary. The Company
will also be able to proceed to complete various transactions and share issues that
there were previously unable to complete due to the continued suspension of the
Company’s securities, as well as regularise the Company’s affairs. Substantial cost
savings will also be achieved.

Shareholders are advised that the Company intendeds to restructure the group and
once finalised, will explore opportunities to enable Bonatla shareholders to hold
tradeable securities, either onshore or offshore.

The Company will keep shareholders and other stakeholders updated through its
website and other means of communication and the date of the removal of the listing
will be announced in due course.

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

By order of the board
16 February 2018

SPONSOR
Arbor Capital Sponsors Proprietary Limited

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