| Thu 26 Jan 2012, 9:50 | | SBL - Sable Holdings Limited - Disposal of various Investment Properties and a |
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SBL
SBL
SBL - Sable Holdings Limited - Disposal of various Investment Properties and a
cautionary announcement
SABLE HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1968/010636/06)
("SABLE")
SHARE CODE: SBL ISIN: ZAE000006383
DISPOSAL OF VARIOUS INVESTMENT PROPERTIES AND A CAUTIONARY ANNOUNCEMENT
1. Introduction
Shareholders are advised that Sable, through its wholly own subsidiary,
Sable Place Properties 106 Proprietary Limited ("the seller"), has entered
into a Sale of Letting Enterprise Agreement ("the Agreement") with Erf 712
Fairland Proprietary Limited ("the Purchaser") in terms of which the seller
will dispose of Erf 712, Portion 1 of Erf 713 and the Remaining Extent of
Erf 713 ("the Property") situated in Fairland Township for a consideration
of R16,850 000 (the Consideration") to the Purchaser("the Disposal").
2. Settlement of the Consideration
The Consideration will be settled in cash on the effective date, being the
date of registration of transfer of the Property into the name of the
Purchaser.
3. Rationale for the Disposal
The rationale for the Disposal, is to take advantage of a strong market
related offer.
4. Suspensive conditions
The Disposal is subject to the fulfillment of the following suspensive
conditions:
- Completion of a due diligence to the satisfaction of the Purchaser
within 21 days of the seller furnishing the Purchaser with the
relevant information; and
- The Purchaser obtaining a loan to settle the Consideration within 20
days of the date of completion of the due diligence.
5. Categorisation of the disposals
The disposal is categorised as a Category II transaction in terms of the
JSE Limited ("the JSE") Listings Requirements.
6. Cautionary announcement
Shareholders are advised that until the results of the due diligence is
known to the Sable board of directors, and accepted, and a full terms
announcement is made which will include specific information relating to
the Property, the subject of the disposal, and the financial effects of the
Disposal are released, if applicable, they should exercise caution when
dealing in their Sable securities on the JSE.
26 January 2012
Designated Advisor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 26/01/2012 09:50:56 Produced by the JSE SENS Department.
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