RBA - RBA Holdings Limited - Acquisition of Properties for Development Purposes
RBA
RBA
RBA - RBA Holdings Limited - Acquisition of Properties for Development Purposes
and Cautionary Announcement
RBA Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/009701/06)
(JSE code: RBA ISIN: ZAE000104154
("RBA" or "the company")
ACQUISITION OF PROPERTIES FOR DEVELOPMENT PURPOSES AND CAUTIONARY ANNOUNCEMENT
Shareholders are advised that a wholly owned subsidiary of RBA has entered into
an agreement, on 6 December 2010, with Clayville Garden City Housing Company
(Proprietary) Limited for the acquisition of nine properties in Clayville
Extension 28 Township for an amount of R14.5 million excluding VAT. The
properties comprise of nine registrable stands earmarked for the development of
at least 1 000 sectional title units. This will bolster RBA`s portfolio of
rental units to be held as investment stock as well as the availability of units
for sale to its traditional market.
The agreement is subject to various conditions precedent which are customary in
transactions of this nature, inter alia the granting of a loan to be secured by
a first mortgage bond. Once the conditions have been fulfilled, a detailed
announcement will be made containing the full financial effects.
Shareholders are advised to exercise caution in dealing with their RBA shares
until such further announcement is made.
8 December 2010
Johannesburg
Designated Adviser
Exchange Sponsors
Date: 09/12/2010 07:05:07 Produced by the JSE SENS Department.
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