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HYPROP INVESTMENTS LIMITED - Update in respect of the disposal of Ikeja City Mall

Release Date: 01/04/2022 11:45
Code(s): HYP HILB11 HILB12 HILB08 HILB09     PDF:  
Wrap Text
Update in respect of the disposal of Ikeja City Mall

HYPROP INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/005284/06)
JSE share code: HYP ISIN: ZAE000190724
JSE bond issuer code: HYPI
(Approved as a REIT by the JSE)
("Hyprop" or "the Company")


UPDATE IN RESPECT OF THE DISPOSAL OF IKEJA CITY MALL


Shareholders are referred to previous announcements regarding the disposal of Ikeja City Mall, the last of which was
released on 28 October 2021. Shareholders are advised that due to the ongoing US dollar liquidity constraints in Nigeria,
the longstop date to implement the transaction has been extended to 30 June 2022. Both parties remain committed to
the transaction, hence it was agreed to proceed with a fully compliant merger application to the Federal Competition
and Consumer Protection Commission of Nigeria in the interim. The extension of the longstop date is conditional on
the purchaser submitting a fully compliant merger application on or before 31 May 2022, failing which the longstop
date shall be 31 May 2022.

Should there be any further developments in relation to the transaction, shareholders will be updated accordingly.

1 April 2022


Sponsor
Java Capital

Date: 01-04-2022 11:45:00
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