DELTA PROPERTY FUND LIMITED - Capital Towers Disposal and DFMT Four Property Disposal update

Capital Towers Disposal and DFMT Four Property Disposal update

DELTA PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/005129/06)
Share code: DLT
ISIN: ZAE000194049
(Approved as a REIT by the JSE)
(“Delta” or “the Company”)


CAPITAL TOWERS DISPOSAL AND DFMT FOUR PROPERTY DISPOSAL UPDATE


Capital Towers Disposal

Shareholders are referred to the announcement released by the Company on 1 December 2022
and the circular issued by the Company on 1 March 2023 relating to the proposed disposal by
K2014000273 (South Africa) Proprietary Limited, a wholly-owned subsidiary of the Company, of its
leasehold property situated at 121 Chief Albert Luthuli Street, Pietermaritzburg, as more commonly
known as “Capital Towers”, to DMFT Property Developers Proprietary Limited (“DMFT”) (“Capital
Towers Disposal”).

Despite the Capital Towers Disposal becoming unconditional, as announced on SENS on 31 March
2023, DFMT has failed to deliver the requisite bank guarantee or balance of the cash consideration
required in order to transfer the leasehold property into the name of DMFT. Accordingly,
shareholders are hereby advised that Delta has cancelled the agreement relating to the Capital
Towers Disposal and therefore the Capital Towers Disposal will no longer be proceeding.

DMFT Four Property Disposal

Shareholders are further referred to the announcements released by the Company on SENS on
13 April 2023 and on 30 May 2023, advising Shareholders of the proposed disposal of four
properties, including their rental enterprises to DMFT (“DMFT Four Property Disposals”).

Shareholders are hereby informed that the agreement in respect of the DMFT Four Property
Disposals has been terminated due to DMFT seeking to significantly alter the salient parameters
of the transaction (including but not limited to reducing the purchase price) in a manner which
was unacceptable to Delta.

Accordingly, shareholders are hereby advised that the DMFT Four Property Disposals will no
longer be proceeding.


28 July 2023
Johannesburg

Transaction Sponsor
Valeo Capital (Pty) Limited

Date: 28-07-2023 01:36:00
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