HPA/HPB - Hospitality Property Fund Limited - Acquisition of the Westin Grand
HPA HPB
HPA
HPA/HPB - Hospitality Property Fund Limited - Acquisition of the Westin Grand
Hotel and Arabella Western Cape Hotel and Spa - fulfilment / waiver of
outstanding conditions precedent
Hospitality Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/014211/06)
Share code for A-linked units: HPA
ISIN for A-linked units: ZAE000076790
Share code for B-linked units: HPB
ISIN for B-linked units: ZAE000076808
("Hospitality")
ACQUISITION OF THE WESTIN GRAND HOTEL AND ARABELLA WESTERN CAPE HOTEL AND SPA
- FULFILMENT / WAIVER OF OUTSTANDING CONDITIONS PRECEDENT
As previously announced on SENS and in the press, at a special general
meeting held on 12 November 2010, Hospitality unitholders approved all the
resolutions required to implement the proposed acquisition ("the Acquistion")
by HPF Properties (Pty) Limited ("HPF Properties"), a subsidiary of
Hospitality, from Arabella South Africa Holding (Proprietary) Limited and its
subsidiaries of the property letting and hotel businesses carried on by them
under the name of The Westin Grand Cape Town Arabella Quays Hotel and the
Arabella Western Cape Hotel and Spa ("AWCHS") together with certain
properties which includes 460 hectares of undeveloped land adjoining AWCHS.
All the conditions precedent to the Acquisition have now been fulfilled or
waived.
HPF Properties is expected to take transfer towards the beginning of May
2011.
6 April 2011
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Legal advisor to Hospitality
Cliffe Dekker Hofmeyr Inc
Date: 06/04/2011 15:06:01 Produced by the JSE SENS Department.
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