SAC - SA Corporate - Acquisition of a Portfolio of
SAC
SAC
SAC - SA Corporate - Acquisition of a Portfolio of 52 Properties and Cautionary
SA Corporate Real Estate Fund
(formerly Martprop Property Fund)
(Incorporated in the Republic of South Africa)
Share Code: SAC & ISIN Code: ZAE000083614
A Collective Investment Scheme in property registered in terms of the Collective
Investment Schemes Control Act, No. 45 of 2002 and managed by SA Corporate Real
Estate Fund Managers Limited
(formerly Marriott Property Fund Managers Limited)
(Registration number 1994/009895/06)
("SA Corporate")
ANNOUNCEMENT REGARDING THE ACQUISITION OF A PORTFOLIO OF 52 PROPERTIES ("THE
ACQUISITION") AND CAUTIONARY ANNOUNCEMENT
1. Introduction
Unitholders are advised that SA Corporate has entered into agreements dated
3rd May 2007 ("the agreements") with Collins Property Group to acquire the
property portfolio known as Buffcoll ("the property portfolio") the
consideration for which is expected to be in excess of R1 billion.
2. Suspensive conditions of the acquisition
The acquisition is subject to inter alia the following suspensive
conditions:
- the completion of a due diligence investigation in respect of the
property portfolio;
- SA Corporate trustee approval and SA Corporate Real Estate Fund
Managers Limited approval;
- approval from the competition authorities;
- procurement of funding for the acquisition; and
- JSE Limited and other statutory and regulatory approvals, to
the extent required.
3. Cautionary announcement
The rationale, valuation information, financial information and property
portfolio information regarding the acquisition will be provided in a
further announcement. Accordingly, unitholders are advised to exercise
caution when dealing in SA Corporate`s securities until the further
announcement has been made.
Durban
8 May 2007
Investment bank and sponsor
Nedbank Capital
Date: 08/05/2007 07:00:02 Produced by the JSE SENS Department.
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