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BNT
BNT
BNT - Bonatla Property Holdings - Further update on the proposed Bluezone
acquisitions
BONATLA PROPERTY HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration Number 1996/014533/06
Share Code: BNT
ISIN Number: ZAE000013694
("Bonatla" or "the company")
FURTHER UPDATE ON THE PROPOSED BLUEZONE ACQUISITIONS
Shareholders are referred to previous announcement dated 30 September 2010 in
this regard, and are advised that all the Section 311 court orders for the 9
property companies in respect of the Bluezone acquisition were sanctioned by the
High Court and the judicial management orders were discharged. The management
of the 9 property companies reverts back to the respective Board of Directors of
each company.
The 9 property companies are :-
Milestone Place Properties (Pty) Ltd - Milestone Place Route 21
Property 259 Properties (Pty) Ltd - Property 259
Nungu Trading 472 (Pty) Ltd - The Heights Tswane University
Quick Leap Investments 461 (Pty) Ltd - Africard Building
Mystic Blue Trading 511 (Pty) Ltd - Prospect Close
Copper Moon Trading 249 (Pty) Ltd - Celtis Plaza
Chambers Ground Floor Properties (Pty) Ltd - Chambers Ground Floor Block E
Bishops Court Properties (Pty) Ltd - Bishops Court Sections 3-8
Tropical Paradise Trading 320 (Pty) Ltd - Chambers 2 & 3
All the gearing arrangements which were approved prior to the high court
sanctions in favour of Makeover Investments / Bonatla for the 4 bonded
properties are in place :-
Copper Moon Trading 249 (Pty) Ltd - Celtis Plaza
Chambers Ground Floor Properties (Pty) Ltd - Chambers Ground Floor Block E
Bishops Court Properties (Pty) Ltd - Bishops Court Sections 3-8
Tropical Paradise Trading 320 (Pty) Ltd - Chambers 2 & 3
As a result of this, the company can now proceed with obtaining shareholder
approval for the acquisition of these properties. A circular in this regard is
in the process of being prepared and shall be submitted to the JSE Limited
shortly.
Houghton
26 October 2010
Sponsor
Arcay Moela Sponsors (Pty) Limited
Date: 26/10/2010 08:56:02 Produced by the JSE SENS Department.
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