BNT - Bonatla Property Holdings Limited - Update on the Acquisition of Tropical
BNT
BNT
BNT - Bonatla Property Holdings Limited - Update on the Acquisition of Tropical
Paradise Trading 334 (Pty) Ltd, Austin Crossing Properties (Pty) Ltd and
Madeline Street Properties (Pty) Ltd
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")
UPDATE ON THE ACQUISITION OF TROPICAL PARADISE TRADING 334 (PTY) LTD ("TROPICAL
PARADISE TRADING"), AUSTIN CROSSING PROPERTIES (PTY) LTD ("AUSTING CROSSING
PROPERTIES") AND MADELINE STREET PROPERTIES (PTY) LTD ("MADELINE STREET")
Shareholders are referred to the SENS announcement dated 4th January 2011
detailing the acquisition of the shares and claims in Tropical Paradise Trading,
which owns the building known as Flextronics and the acquisition of the shares
and claims in Austin Crossing Properties, which owns the Austin Crossing
Shopping Centre and the SENS announcement dated 20th January 2011, detailing the
acquisition of Madeline Street Properties, which owns the property known as
Madeline Street (together referred to as "the Property Companies").
The board of Bonatla is pleased to advise that general meetings of the
shareholders of Madeline Street Holdings (Pty) Ltd (which owns the shares in
Madeline Street), Austin Crossing Holdings (Pty) Ltd (which owns the shares in
Austin Crossing) and Liberty Lane Trading 98 (Pty) Ltd (which owns the shares in
Tropical Paradise Trading) (together the "Property Owning Companies") were held
on 17 February 2011 and 25 February 2011 respectively, at which meetings,
special resolutions in terms of Section 228 of the Companies Act, 1973 (as
amended) approving the sale of the Property Companies to Bonatla Properties
(Pty) Ltd and ordinary resolutions in respect of proceeding with Section 311
offers of compromise to the creditors in respect of the Property Owning
companies were passed by the requisite majority of shareholders of each company.
The special resolutions will be submitted to CIPRO for registration in due
course.
Houghton
25 February 2011
Sponsor
Arcay Moela Sponsors (Pty) Ltd
Date: 25/02/2011 17:37:01 Produced by the JSE SENS Department.
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