| Mon 13 Feb 2012, 14:58 | | ISA - ISA Holdings Limited - Acquisition of office building in Woodmead |
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ISA
ISA
ISA - ISA Holdings Limited - Acquisition of office building in Woodmead,
Johannesburg
ISA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/009608/06)
JSE Share code: ISA ISIN: ZAE000067344
("ISA" or "the company" or "the group")
ACQUISITION OF OFFICE BUILDING IN WOODMEAD, JOHANNESBURG
1. INTRODUCTION
Shareholders are advised that Information Security Architects MSS
(Proprietary) Limited ("ISAmss"), a wholly owned subsidiary of ISA, has
entered into an Agreement with Barrow Properties (Proprietary) Limited
("Barrow") ("the acquisition"), for the acquisition of Portion 5 of Erf
879, Woodmead, Ext 33 ("the property") for a purchase price of R10 450
000 (excluding Value Added Tax) ("VAT").
2. RATIONALE FOR THE ACQUISITION
The acquisition of the property is to accommodate the operations of the
group.
3. TERMS AND CONDITIONS OF THE ACQUISITION
3.1 On 9 February 2012 ("the signature date"), ISAmss entered into an
Agreement for the acquisition of Portion 5 of Erf 879, Woodmead,
Ext 33, known as Building 9, situated at Pinewood Office Park,
Riley Road with Barrow. The office building is 825 metres squared.
3.2 The purchase price payable for the property is the aggregate of R
10 450 000 plus VAT, equating to R11 913 000.
3.3 The purchase price will be secured by the delivery of a bank
guarantee within 30 days of signature date and will be paid out of
current cash reserves.
3.4 Occupation is anticipated to take place on 1 May 2012.
4. UNAUDITED PRO FORMA FINANCIAL EFFECTS OF THE ACQUISITION
The pro forma financial effects are below 3% and are therefore
considered insignificant.
5. CATEGORISATION OF THE ACQUISITION
This is a Category 2 transaction in terms of the JSE Limited`s Listings
Requirements.
13 February 2012
Johannesburg
Designated Advisor
Exchange Sponsors
Date: 13/02/2012 14:58:01 Produced by the JSE SENS Department.
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