SRL - SA Retail - SA Retail meeting approves r1 bi
SRL
SRL
SRL - SA Retail - SA Retail meeting approves r1 billion acquisition
S A RETAIL PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/025764/06)
(JSE Code: SRL & ISIN Code: ZAE000034328)
("SA Retail" or "the Company")
SA Retail meeting approves R1 billion acquisition
R7 BILLION SA CORPORATE REAL ESTATE FUND A STEP CLOSER
The merger of SA Corporate Real Estate Fund and SA Retail Properties Ltd to
create a R7 billion diversified fund moved a step closer today.
Peter Sparks, managing director of SA Retail, reported that at a general meeting
of SA Retail unitholders in Durban today, 98% of unitholders approved the
acquisition of the R1 billion Sharemax portfolio of 10 retail properties.
The next step in the process is at the meeting on 12 April when SA Corporate
unitholders meet. SA Corporate said last week it had support of unitholders
representing 55% of its units to approve the SA Retail acquisition.
SA Corporate has also announced that its offer has the backing of 97% of SA
Retail unitholders.
05 April 2007
Date: 05/04/2007 16:16:00 Produced by the JSE SENS Department.
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