PEMBURY LIFESTYLE GROUP LIMITED - Update Announcement re the Acq of Pembury Sandton and the Proposed Circular to Shareholders and New Cautionary Ann

Release Date: 27/08/2018 12:09
Code(s): PEM
 
Wrap Text
Update Announcement re the Acq of Pembury Sandton and the Proposed Circular to Shareholders and New Cautionary Ann

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


UPDATE ANNOUNCEMENT REGARDING THE ACQUISITION OF PEMBURY SANDTON
(“Acquisition”) AND THE PROPOSED CIRCULAR TO SHAREHOLDERS AND NEW CAUTIONARY
ANNOUNCEMENT


Shareholders are referred to the announcement dated 24 April 2018 regarding the
extension of time for the posting of the circular relating to the acquisition of the property
known as Pembury Sandton (“the Circular”).

Due to the delay in the publication of the Company’s results for the year ended
31 December 2017 (“the Results”), an update in respect of which was announced on
6 July 2018, the time period in which the Circular had to be resubmitted to the JSE for
approval has lapsed. In addition, certain conditions precedent were not met within the
prescribed timeframes and the parties have verbally agreed to extend the dates for the
completion of these conditions precedent (“Conditions Precedent Dates”), but this needs
to be reduced to writing.

The Company will revive the submission of the Circular to the JSE as soon as the Results
have been finalised and the Company has extended the Conditions Precedent Dates.

A further announcement regarding the Acquisition and posting date of the Circular will
be made in due course. Accordingly, shareholders are advised to exercise caution until
a further announcement is made.

By Order of the Board
Johannesburg
27 August 2018

Designated Advisor
Arbor Capital Sponsors

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