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ABT
ABT
ABT - Ambit Properties Limited - Update in respect of The Diagonal Street and
Abseq Acquisitions
AMBIT PROPERTIES LIMITED(Incoporated in the Republic of South Africa)
(Registration number: 2001/007003/06)Share code: ABTISIN code:
ZAE000051645("Ambit" or "the Company")
UPDATE IN RESPECT OF THE DIAGONAL STREET AND ABSEQ ACQUISITIONS
Diagonal Street Acquisition
Ambit linked unitholders ("unitholders") are referred to the announcement dated
17 October 2007 and the circular to linked unitholders issued on 29 November
2007 ("the circular") and are advised that all the conditions precedent as set
out in the abovementioned circular, with the exception of the approval of the
requisite majority of unitholders, have been fulfilled. Approval of unitholders
will be sought at the general meeting to be convened as detailed in paragraph 3
below.
The information in respect of the Diagonal Street Acquisition as published in
the announcement of 17 October 2007 and the circular remains unchanged.
2. Abseq Acquisition
Ambit unitholders are referred to the announcement dated 19 October 2007 and the
circular and are advised that Ambit and the Abseq Vendors are in discussions as
to an extension of time to enable the fulfilment of the outstanding conditions
precedent as set out in the circular. Accordingly, unitholder approval will no
longer be sought at the general meeting of unitholders to be convened as
detailed in paragraph 3 below.
3. General meeting
Unitholders are hereby advised that at the general meeting of unitholders to be
held in the offices on the First Floor, 4 Fricker Road, Illovo Boulevard,
Illovo, Johannesburg at 10h00 on Firday, 21 December 2007, as per the notice of
general meeting of Ambit linked unitholders issued on 29 November 2007, all
resolutions relating to the Abseq Acquisition will be withdrawn. The resolutions
relating to the Diagonal Street Acquisition will still be considered and voted
on by Ambit linked unitholders eligible to vote.
Johannesburg18 December 2007
Corporate advisor:
GRINDROD BANK
Lead sponsor:EXCHANGE SPONSORS (PTY) LIMITED
Placement agent and joint sponsor:
BARNARD JACOBS MELLET CORPORATE FINANCE (PTY) LIMITED
Attorneys to Ambit:
CLIFFE DEKKER INC
Auditors and Reporting Accountants:
DELOITTE & TOUCHE
Date: 18/12/2007 15:14:05 Produced by the JSE SENS Department.
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