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TOWER PROPERTY FUND LIMITED - Closing of Oryx Investment

Release Date: 17/07/2018 12:30
Code(s): TWR     PDF:  
Wrap Text
Closing of Oryx Investment

TOWER PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2012/066457/06)
JSE share code: TWR ISIN: ZAE000179040
(Approved as a REIT by the JSE)
("Tower" or the "company")


CLOSING OF ORYX INVESTMENT


Shareholders are referred to the announcement released on SENS on 1 March 2018 regarding the conclusion of an irrevocable
undertaking in terms of which Oryx Properties Limited ("Oryx") undertook to acquire (by sale and subscription) an investment of
R300 million in TPF International Limited, a Mauritian Category 1 Global Business Licence company housing Tower’s Croatian
portfolio (the "Oryx Investment").

Tower is pleased to inform shareholders that the sale agreement giving effect to the first R200 million of the Oryx Investment has
been signed and closed on substantially the same terms as set out in the 1 March 2018 announcement, with R200 million having
been paid to Tower pursuant to the sale agreement. The subscription agreement, in terms of which the remaining R100 million of
the Oryx Investment will be paid to TPF International Limited, will be implemented in due course.

17 July 2018


Corporate advisor and sponsor
Java Capital

Legal advisors
Cliffe Dekker Hofmeyr

Date: 17/07/2018 12:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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