HOSKEN CONSOLIDATED INVESTMENTS LIMITED - Disposal by a subsidiary, Tsogo Sun Holdings Limited and withdrawal of cautionary announcement

Release Date: 10/07/2018 16:40
Code(s): HCI
 
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Disposal by a subsidiary, Tsogo Sun Holdings Limited and withdrawal of cautionary announcement

HOSKEN CONSOLIDATED INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(Share code: HCI ISIN: ZAE000003257)
(“HCI” or the “Company”)


DISPOSAL BY A SUBSIDIARY, TSOGO SUN HOLDINGS LIMITED (“TSOGO”) OF CERTAIN
CASINO PRECINT PROPERTIES TO ITS SUBSIDIARY, HOSPITALITY PROPERTY FUND
(“HPF”) AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT


 Further to the detailed cautionary announcement issued on 3 March 2018 and the various renewal
 of cautionary announcements, the last of which was dated 1 June 2018, the board of directors of
 HCI is pleased to announce that Tsogo has entered into a sale of shares and subscription
 agreement with HPF, whereby Tsogo will dispose of a portfolio of seven mixed-use casino precinct
 properties to HPF for an aggregate purchase consideration of R23 billion (the “Disposal”).

 In terms of the JSE Listings Requirements, the Disposal is classified as a Category 2 transaction
 for HCI, as Tsogo is a subsidiary of the Company. Accordingly, the Disposal does not require
 approval by HCI shareholders. Shareholders should note the content of the Tsogo announcement
 issued 9 July 2018 (the “announcement”) for the JSE Listings Requirements Category 2
 disclosure.

 On the basis of the above and the contents of the announcement, caution is no longer required to
 be exercised when dealing in the Company’s shares.

 Cape Town
 10 July 2018

 Financial advisor and Sponsor
 Investec Bank Limited

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