| Wed 20 May 2009, 13:43 | | CGR - Calgro M3 Holdings Limited - Fulfilment Of All Outstanding Conditions |
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CGR
CGR
CGR - Calgro M3 Holdings Limited - Fulfilment Of All Outstanding Conditions
Precedent In Respect Of The Disposal Of 30% In Fleurhof Extension 2
(Proprietary) Limited To South Africa Workforce Housing Fund Lp And Related
Funding Arrangements
CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2005/027663/06)
Share Code: CGR ISIN: ZAE000109203
("Calgro" or "the Company")
FULFILMENT OF ALL OUTSTANDING CONDITIONS PRECEDENT in respect of the DISPOSAL OF
30% IN FLEURHOF EXTENSION 2 (PROPRIETARY) LIMITED TO South Africa Workforce
Housing Fund LP AND RELATED FUNDING ARRANGEMENTS
Shareholders are referred to the Calgro circular dated 7 April 2009 wherein the
Company outlined the intention of Calgro M3 Land (Proprietary) Limited ("Calgro
M3 Land"), a wholly-owned subsidiary of Calgro, to dispose of 30% of its equity
interest in Fleurhof Extension 2 (Proprietary) Limited, a wholly-owned
subsidiary of Calgro M3 Land, for a total cash consideration of R30 million, and
related funding arrangements ("the Transaction").
As announced on SENS on 23 April 2009 ("the announcement"), all resolutions
relating to the Transaction had been passed unanimously by shareholders present
and voting, in person or by proxy, at the general meeting held on the same day.
Shareholders are hereby advised that all other remaining conditions precedent to
the Transaction, as detailed in the announcement, have now been fulfilled,
resulting in the Transaction becoming unconditional.
Johannesburg
20 May 2009
Corporate and Designated Advisor
PSG Capital (Proprietary) Limited
Date: 20/05/2009 13:43:02 Produced by the JSE SENS Department.
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