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Sea Kay Holdings Ltd - Update on the acquisition of a property development in Kwa-Zulu Natal and further cautionary announcement

Release Date: 13/07/2012 11:35
Code(s): SKY
 
Wrap Text
SEA KAY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/004967/06)
JSE code: SKY
ISIN: ZAE0000
(Sea Kay or the Company)


UPDATE ON THE ACQUISITION OF A PROPERTY DEVELOPMENT IN KWA-ZULU NATAL AND FURTHER CAUTIONARY ANNOUNCEMENT
UPDATE ON THE ACQUISITION OF A PROPERTY DEVELOPMENT IN KWA-ZULU NATAL
Shareholders are referred to the announcement dated 18 April 2012
(the Announcement), which contained details of an agreement to
purchase a 360 ha commercial and residential property development in
Kwa-Zulu Natal (the Transaction) and are advised that the:
1. time-frame for the delivery of the relevant guarantee as
mentioned in the Announcement has been extended by 21 working days;
2. sourcing of funding from financial institutions is ongoing and has not been finalised; and
3. negotiations regarding the other two potential property
acquisitions mentioned in the Announcement are ongoing. FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are therefore advised to continue to exercise caution
when dealing in the Company's securities until such time as the
matters set out above are finalised and the financial effects of the Transaction are released. Sandton 13 July 2012 Sponsor Vunani Corporate Finance
Date: 13/07/2012 11:35:00 Supplied by www.sharenet.co.za Produced by the JSE SENS Department . The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
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