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HOSPITALITY PROPERTY FUND LIMITED - Update regarding acquisition of casino precincts

Release Date: 12/11/2018 12:44
Code(s): HPB HPF06 HPF11 HPF08 HPF09     PDF:  
 
Wrap Text
Update regarding acquisition of casino precincts

HOSPITALITY PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/014211/06)
JSE share code: HPB         ISIN: ZAE000214656
Company code: HPAI
(Approved as a REIT by the JSE)
("Hospitality" or the "company")


UPDATE REGARDING ACQUISITION OF CASINO PRECINCTS


Shareholders are referred to the Tsogo Sun Holdings Limited ("Tsogo") announcement published on SENS
on 23 October 2018 regarding the adjournment of the general meeting convened to consider Tsogo's proposed
disposal of a portfolio of seven mixed-use casino properties to Hospitality ("transaction") and the subsequent
distribution by Tsogo, of its entire Hospitality shareholding to Tsogo shareholders ("unbundling").

Shareholders are further referred to the Tsogo announcement published on SENS on 12 November 2018 and
are advised that, following engagement with certain Tsogo investors, the transaction and the unbundling did
not enjoy support of sufficient Tsogo shareholders for their implementation. Accordingly, the Tsogo board of
directors had withdrawn the resolutions that were to have been considered at the reconvened general meeting
scheduled for 09:00 on Monday, 12 November 2018 ("reconvened general meeting") and the sale of shares
and subscription agreement has been terminated by agreement between Tsogo, Hospitality and the remaining
parties to that agreement. As such, no resolutions were proposed for consideration at the reconvened general
meeting and the meeting terminated. Accordingly, the transaction detailed in the circular issued to Hospitality
shareholders on 21 September 2018 will not be implemented.

12 November 2018


Corporate advisor and sponsor
Java Capital
Date: 12/11/2018 12:44:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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