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ORION REAL ESTATE LIMITED - Renewal of Cautionary Announcement

Release Date: 08/07/2019 16:05
Code(s): ORE     PDF:  
Wrap Text
Renewal of Cautionary Announcement

ORION REAL ESTATE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1997/021085/06)
Share Code: ORE ISIN: ZAE000075651
("Orion " or “the Company” or “the Group”)

RENEWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the detailed cautionary announcement published on 24 May
2019 and advise as follows:

UPDATE ON THE DISPOSAL OF ORION HOUSE
Shareholders are advised that the transfer of the property has been concluded and Orion
has moved its Head Office to 26 Wellington Road in Parktown as per the SENS
announcement dated 1 July 2019.

RENEWAL OF CAUTIONARY ANNOUNCEMENT
The Company remains under cautionary for the eight remaining property acquisitions and
the Investec liquidation per the 5 April 2019 SENS announcement. As previously announced,
the application for the liquidation of Orion by Investec is being opposed by Orion. To this
end shareholders are advised that the condition precedent for Investec to accept
R75 million of the proceeds from the sale of Orion House has been met and that payment
of the amount was made around 20 June 2019.

A further announcement will be made in due course. Accordingly, shareholders are advised
to exercise caution when dealing in their securities until a further announcement is made.


JOHANNESBURG
8 July 2019


Sponsor
Arbor Capital Sponsors Proprietary Limited

Date: 08/07/2019 04:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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