VKE - Vukile Property Fund - Further announcement regarding the acquisition of
VKE
VKE
VKE - Vukile Property Fund - Further announcement regarding the acquisition of
the property known as Giyani Plaza
Vukile Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/027194/06)
JSE Share code: VKE ISIN: ZAE000056370
NSX Share code: VKN
("Vukile" or "the company")
FURTHER ANNOUNCEMENT REGARDING THE ACQUISITION OF THE PROPERTY KNOWN AS GIYANI
PLAZA
Vukile linked unitholders are referred to the announcement published on SENS
on 11 April 2011 regarding the acquisition of Giyani Plaza ("the Property")
from Sanlam Life Insurance Limited for a total purchase price of R68.25
million ("the Acquisition").
The Acquisition is a "small related party" transaction in terms of the JSE
Limited Listings Requirements and the company therefore appointed an
independent registered valuer, Quadrant Properties (Proprietary) Limited ("the
Valuer") to ascribe a value to the Property. The Valuer has valued the
Property at an amount of R69.20 million as at 1 August 2011 and the valuation
report is available for inspection at Vukile`s registered office for a period
of 28 days from the date of this announcement.
Based on the value of the Property arrived at by the Valuer, the directors of
Vukile are of the opinion that the terms and conditions of the acquisition are
fair to Vukile linked unitholders.
Johannesburg
5 May 2011
JSE sponsor: One Capital
NSX sponsor: IJG Securities (Proprietary) Limited
Date: 05/05/2011 16:56:11 Produced by the JSE SENS Department.
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