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PEMBURY LIFESTYLE GROUP LIMITED - Further update in respect of previous announcements and withdrawal of cautionary ann - Sandton and Pinetown Props

Release Date: 27/02/2018 17:27
Code(s): PEM     PDF:  
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Further update in respect of previous announcements and withdrawal of cautionary ann - Sandton and Pinetown Props

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


FURTHER UPDATE IN RESPECT OF PREVIOUS ANNOUNCEMENTS AND WITHDRAWAL OF CAUTIONARY
ANNOUNCEMENT – SANDTON AND PINETOWN PROPERTIES


Acquisition of property located in Sandton
Further to the announcement dated 21 February 2018 (“First Announcement”), shareholders are
advised that the sole shareholder of Zephan Properties Proprietary Limited, being the Seller of
the Property, as defined in the First Announcement, is the N. Georgiou Trust, a trust associated
with Mr Nicolas Georgiou and an unrelated party to the Company.

As stated in the First Announcement, the Seller is not yet the registered owner of the Property,
which is a material condition precedent of the transaction. However, the Seller has provided
the Company with written confirmation from its attorney that the transfer of the Property to the
Seller is in process and that the Property is unencumbered. The third party who currently owns
the Property is South Central Manufacturer Proprietary Limited.

Shareholders are further advised that the correct description of the Property, as referred in
paragraph 5 of the First Announcement, is the remaining extent of Erf 22 Sandown and Erf 23
Sandown.

As previously announced, the acquisition of the Property is a Category 1 transaction and will
require shareholder approval. A summary circular, incorporating revised listing particulars, will
be circulated to shareholders within the timeframes stipulated in the JSE Listings Requirements.

Acquisition of Pinetown Nursing and Home for the Aged (“Pinetown Acquisition”)
Further to the announcements dated 22 January 2018 and 23 February 2018, shareholders are
advised that the Company has not yet received the Annual Financial Statements for the year
ended 28 February 2017 in respect of the Pinetown Acquisition. The balance of the financial
information will be published in due course. However, this information is not considered to
materially affect shareholder decisions due to the financial information that has already been
provided and published.

Withdrawal of cautionary announcement
The Company is not in any other negotiations and all material terms and material financial
information has now been announced. Accordingly, the cautionary announcement is now
withdrawn.

BY ORDER OF THE BOARD
27 February 2018
Johannesburg

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

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