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NEW FRONTIER PROPERTIES LIMITED - Update on acceleration of loan on Blackpool

Release Date: 31/10/2019 14:30
Code(s): NFP     PDF:  
Wrap Text
Update on acceleration of loan on Blackpool

New Frontier Properties Ltd
(Incorporated in the Republic of Mauritius on 5 June 2014)
(Registration number 123368C1/GBL)
SEM share code: NFP.N000
JSE share code: NFP
ISIN: MU0453N00004
(“New Frontier” or “the Company”)


UPDATE ON ACCELERATION OF LOAN ON BLACKPOOL


Shareholders are referred to New Frontier’s announcement dated 30 October 2019 informing shareholders that that BCC
Eiffel Limited (“BCC Eiffel”), a wholly-owned subsidiary of New Frontier, received a notice of acceleration from Deutsche
Pfannbriefbank on its loan secured on Houndshill Shopping Centre, Blackpool. The demand required BCC Eiffel to repay
the outstanding loan of £56.9 million by 13.00 (London Time) on 30 October 2019. Deutsche Pfannbriefbank were advised
that BCC Eiffel was not able to settle the demand for repayment.

BCC Eiffel has now been advised that Joint Law of Property Act Receivers Mathew Nagle and Kevin Mersh were appointed
on 30 October 2019 and have exchanged contracts to dispose of the Houndshill Shopping Centre, Blackpool on behalf of
the Deutsche Pfannbriefbank.

New Frontier holds primary listings on the Stock Exchange of Mauritius Ltd (“SEM”) and the Alternative Exchange of the
Johannesburg Stock Exchange (“JSE”).


31 October 2019

This notice is issued pursuant to SEM Listing Rule 11.3. The board of New Frontier Properties Ltd accepts full responsibility for
the accuracy of the information in this notice

For further information please contact:

JSE sponsor
Java Capital                                   +27 11 722 3050

Company secretary
Osiris Corporate Solutions (Mauritius) Ltd     +230 650 4030

Date: 31/10/2019 02:30:00
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