QHL - Queensgate Hotels and Leisure Limited - Renewal of cautionary announcement
QHL
QHL
QHL - Queensgate Hotels and Leisure Limited - Renewal of cautionary announcement
QUEENSGATE HOTELS AND LEISURE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/013649/06)
Share code: QHL ISIN Code: ZAE000113718
("Queensgate" or "the company")
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcements dated 22 November 2010, 05 January
2011 and 17 February 2011 respectively, shareholders are advised that the
Company has signed a mandate with Dale Private Equity (Pty) Ltd ("DPE") and
ABT Private Equity CC ("ABT"), which latter company will be a related party
advisor to the Company in relation to the proposed acquisition of assets
("the transaction") from Dale Capital Partners Limited ("Dale") and other
Dale associated companies. Dale is a Stock Exchange of Mauritius listed
entity.
DPE is one of the original controlling shareholders of Queensgate and is
acting on behalf of Dale. DPE will cover the costs of the related party
advisor, ABT for a period of three months or to the closing date.
The terms of the mandate are, inter alia, that ABT:
- facilitate the transaction; and
- undertake a debt settlement process.
Accordingly, shareholders are advised to continue to exercise caution when
dealing in the company`s securities until a further announcement is made.
Johannesburg
1 April 2011
Designated Advisor
Arcay Moela Sponsors (Pty) Ltd
Date: 01/04/2011 07:53:01 Produced by the JSE SENS Department.
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