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Update on the development of a logistics warehouse facility for Pepkor
EQUITES PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/080877/06)
Share code: EQU ISIN: ZAE000188843
(Approved as a REIT by the JSE)
(“Equites”)
UPDATE ON THE DEVELOPMENT OF A LOGISTICS WAREHOUSE FACILITY FOR PEPKOR
Shareholders are referred to the announcement published on SENS on 20 January 2020, wherein shareholders
were advised that Equites had concluded an agreement ("the agreement") with Pepkor Trading Proprietary
Limited, a wholly-owned subsidiary of Pepkor Holdings Limited (“Pepkor”), to develop a large logistics
warehouse facility on land situated in Hammarsdale, KwaZulu-Natal (“the development”) at an indicative
total cost of development of R1.3 billion and that the agreement was subject to certain suspensive conditions.
Shareholders are advised that due to the market disruption resulting from Covid-19 pandemic, the board of
directors of Equites has resolved that, despite its strong desire to partner with Pepkor in relation to the
development, it would not be prudent at this stage to proceed with the development on the originally envisaged
commercial terms, and the agreement will accordingly not become unconditional.
Equites has nevertheless indicated to Pepkor that it would like to continue its constructive engagement with
Pepkor with a view to possibly concluding a transaction once market conditions are more conducive.
4 May 2020
Sponsor
Java Capital
Date: 04-05-2020 03:00:00
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