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Agreements with related parties
NEWPARK REIT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2015/436550/06)
JSE share code: NRL ISIN: ZAE000212783
(Approved as a REIT by the JSE)
("Newpark" or "the Company")
AGREEMENTS WITH RELATED PARTIES
Agreement with Renlia Developments Proprietary Limited ("Renlia")
Shareholders are advised that in October 2022, the Company and Renlia concluded a verbal agreement in terms of which
Renlia will secure the renewal of the leases for certain specified tenants and provide project management services for
Newpark's capital projects on an ad hoc basis. Lease renewal terms and any capital projects which are subject to the
agreement require the prior approval of the board of Newpark.
The term of the agreement is unspecified and may be terminated upon notice being given by either Newpark or Renlia.
The agreement is not subject to any outstanding conditions precedent.
Renlia is a property investment and development company primarily focused on office, industrial and residential
opportunities. Newpark believes that Renlia has the requisite technical expertise and experience in the property industry,
and strong tenant relationships, to provide the required services in a cost effective manner rather than employing the
services of independent consultants.
As consideration for rendering the services pursuant to the agreement, the Company will pay Renlia in cash as follows:
- asset management fee of 0.5% of the asset value of the property, payable on the successful lease renewal for the
single tenanted properties which has now been completed; and
- project management fee of 2.5% of Newpark's share of approved project costs for capital projects, payable on the
completion of the projects.
To date the following fees have been paid to Renlia:
Consideration
Year ended paid
Feb 2023 R824 000
Feb 2024 R905 000
Feb 2025 R3 602 000
Agreement with Eric Ellerine Trust (Pty) Ltd ("EET")
On 1 July 2024, EET and the Company concluded a service agreement in terms of which EET will provide bookkeeping
and financial management services in consideration for a cash monthly fee of R35 000, excluding VAT.
EET has the appropriate resources and relevant experience required to perform the services and are able to provide them
on a more cost effective basis than engaging third-party service providers.
The monthly fee is subject to annual review.
The service agreement is not subject to any outstanding conditions precedent.
The service agreement will endure indefinitely and will be terminated by either party upon 3 months written notice.
To date the following fees have been paid to EET:
Consideration
Year ended paid
Feb 2025 R280 000
Mar 2025 – May 2025 R105 000
Agreement with Ellerine Brothers Pty Limited ("Ellerine Brothers")
On 1 July 2024, Ellerine Brothers and the Company concluded a service agreement in terms of which Ellerine Brothers
will provide cash management services in consideration for a cash monthly fee of R5 000, excluding VAT.
Ellerine Brothers is a property owning entity that has the appropriate resources and relevant experience required to
perform the services and are able to provide them on a more cost effective basis than engaging third-party service
providers.
The monthly fee is subject to annual review.
The service agreement is not subject to any outstanding conditions precedent.
The service agreement will endure indefinitely and will be terminated by either party upon 3 months written notice.
To date the following fees have been paid to Ellerine Brothers:
Year ended Consideration paid
Feb 2025 R40 000
Mar 2025 – May 2025 R15 000
Related party considerations
Renlia is a related party to Newpark as it is a material shareholder of Newpark and is an associate of Barry van Wyk
who is a non-executive director of Newpark.
Ellerine Brothers is a related party to Newpark as it is an associate of Kevin Ellerine and Dionne Hirschowitz who are
non-executive directors of Newpark.
EET is a related party to Newpark as it is an associate of Dionne Hirschowitz who is a non-executive director of
Newpark.
Each of the related party agreements referred to above falls below the "small related party transaction" categorisation
threshold for AltX listed companies and therefore the information relating thereto and included in this announcement is
provided for information purposes only and as required in terms of paragraph 21.12(c) of the JSE Listings Requirements.
The Company undertakes to closely monitor the fees paid to each of the related parties to ensure that categorisation and
aggregation principles over a rolling 12 month period in terms of sections 9, 10 and 21 of the JSE Listings Requirements
are complied with.
15 May 2025
Designated advisor
Java Capital
Date: 15-05-2025 05:00:00
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