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Sharenet Sites
Monthly progress report in respect of public sale process
REBOSIS PROPERTY FUND LIMITED (IN BUSINESS RESCUE)
Incorporated in the Republic of South Africa
(Registration number: 2010/003468/06)
JSE share code: REA ISIN: ZAE000240552
JSE share code: REB ISIN: ZAE000201687
(Approved as a REIT by the JSE)
(“Rebosis” or the “Company”)
MONTHLY PROGRESS REPORT IN RESPECT OF PUBLIC SALE PROCESS
Shareholders are referred to the announcement released by the Company on 6 April 2023 (“PSP
Announcement”) which provided salient information regarding the Public Sales Process (“PSP”),
including the requirements for prospective participants to register for and the administration of the
PSP. This announcement is an update on the PSP initiated in terms of the amended Business Rescue
Plan (“amended BRP”) approved by Rebosis’ creditors on 31 March 2023.
To date several listed and unlisted retail-focused property groups have indicated interest in
participating in the PSP and the administrators of the PSP continue to see traction in this regard.
The Government-tenanted portfolio has received interest from unlisted property groups and
seasoned property entrepreneurs specialising in this asset class.
A number of participants have been formally admitted to the PSP and have obtained access to
information via a virtual data room on a confidential basis. These participants will also be afforded the
opportunity to attend site visits.
The PSP commenced on 6 April 2023. Between 11 and 12 April 2023, the e-mail address provided for
participants to indicate their desire to participate in the PSP malfunctioned and as a result no e-mails
reached the administrators of the PSP. This matter was rectified as soon as Rebosis management
became aware of the malfunction. The market was notified of the malfunction via a SENS update on
18 April 2023, as well as on Rebosis’ website, and prospective participants were encouraged to re-
send their registration documentation.
Below is a revised indicative timetable in respect of the PSP for the attention of prospective and
registered participants, which includes an extension to the EOI Submission Date. As previously
communicated on SENS, the BRPs have the right to amend these time periods.
Milestone Indicative Date (2023)
Deadline for receipt of Registration e-mails 11 May
Registration Deadline 12 May
EOI Submission Date 15 May
Preferred Bidder Notification Date 19 May
Due Diligence
(“DD Period”) 20 May – 29 June
Binding Offer Date 29 June
Final Offer Date 20 July
Selection of Final Purchaser and conclusion of Final Sale
Agreement 27 July
3 May 2023
Joint Business Rescue Practitioners: Phahlani Mkhombo and Jacques du Toit
Advisors to the BRPs: Java Capital Proprietary Limited, Black Acres Proprietary Limited, Deloitte &
Touche
Legal Advisors to the BRPs: Cliffe Dekker Hofmeyr Inc.
Sponsor to Rebosis: Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 03-05-2023 02:38:00
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