RIN - Redefine Properties International Limited - Hotel Portfolio Acquisition
RIN
RIN
RIN - Redefine Properties International Limited - Hotel Portfolio Acquisition
Redefine Properties International Limited
(formerly Kalpafon Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2010/009284/06)
JSE share code: RIN ISIN Code: ZAE000149282
("RIN")
Hotel Portfolio Acquisition
Set out below is an announcement which was released by Redefine International
plc, the AIM-listed subsidiary of RIN, on the Regulatory News Service ("RNS") of
the London Stock Exchange today.
Further details of the acquisition of the hotel portfolio are set out in the
prospectus issued by RIN on 23 August 2010.
"Redefine International plc
("Redefine International")
Hotel Portfolio Acquisition
Further to Redefine International`s announcement on 26 July 2010, the Directors
are delighted to confirm the successful completion of acquisition of the hotel
portfolio consisting of 5 Holiday Inn hotels located in London.
The total cost (including transaction fees and expenses) of the acquisition is
approximately GBP112.2 million. A GBP68.4 million loan has been secured from
Aareal Bank AG for a period of 5 years at an overall interest rate of 4.65%.
For further information please contact:
Redefine International plc +27(0)21 683 3829
Gavin Tipper - Chairman
Singer Capital Markets +44(0)203 205 7500
Jeff Keating
Powerscourt +44(0)207 250 1446
Matthew Fletcher / Karen Le Cannu
Redefine International Fund Managers Ltd +1 (284) 494 9820
Miles Walton"
30 November 2010
Sponsor to Redefine Properties International Limited
Java Capital
Date: 30/11/2010 17:00:14 Produced by the JSE SENS Department.
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