|
TMT
TMT
TMT - Trematon - Disposal by Trematon of Its 20% equity interest in Ingenuity
Property Investments Limited - Cautionary Announcement
Trematon Capital Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/008691/06
Share code: TMT
ISIN: ZAE000013991
("Trematon" or "the Company")
DISPOSAL BY TREMATON OF ITS 20% EQUITY INTEREST IN INGENUITY PROPERTY
INVESTMENTS LIMITED
CAUTIONARY ANNOUNCEMENT
1. Introduction and terms
Shareholders are advised that Trematon, through its wholly-owned subsidiaries
Tremgrowth (Pty) Ltd and Tremtrade (Pty) Ltd, has entered into sale of shares
agreements dated 30 December 2009 in terms of which Trematon will dispose of 137
million ordinary shares in Ingenuity Property Investments Limited ("Ingenuity"),
constituting 20.8% of the issued ordinary share capital of Ingenuity for a
consideration of R68,5 million to Jacana Assets Limited and Mr LI Frenkel("the
disposal").
The effective date of the disposal is the first business day following the date
on which all the conditions precedent (set out in paragraph 4 below) are
fulfilled ("the effective date").
2. Settlement of the consideration
The consideration of R68,5 million will be settled in cash on the effective
date.
3. Description of Ingenuity and rationale for the disposal
Ingenuity is a property investment company with its core strategic focus to
acquire and develop properties within the Western Cape region.
Although the asset base and the management of Ingenuity are of high quality the
board of Trematon is of the opinion that the current needs of shareholders would
be better served by selling the investment at a fair price and reducing the
overall level of gearing in the company.
4. Conditions precedent
The disposal is subject to approval by the requisite number of Trematon
shareholders in a general meeting on or before 31 March 2010.
5. Categorisation of the acquisition
The disposal is categorised as a Category 1 transaction in terms of the JSE
Limited Listings Requirements.
6. Cautionary announcement
Shareholders are advised to exercise caution when dealing in the company`s
securities on the JSE until an announcement containing financial effects of the
disposal is released.
Cape Town
31 December 2009
Sponsor: Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 31/12/2009 09:34:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
