| Tue 15 May 2012, 14:09 | | SBL - Sable Holdings Limited - The Disposal of an |
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SBL
SBL
SBL - Sable Holdings Limited - The Disposal of an Investment Property and
withdrawal of cautionary announcement
SABLE HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER: 1968/010636/06)
("SABLE")
SHARE CODE: SBL ISIN: ZAE000006383
THE DISPOSAL OF AN INVESTMENT PROPERTY AND WITHDRAWAL OF CAUTIONARY
ANNOUNCEMENT
1. Introduction and terms
Shareholders are referred to announcements released on SENS on 26
January 2012, 16 February 2012, and 28 March 2012 wherein Sable advised
that it had, through its wholly-owned subsidiary, Sable Place Properties
106 Proprietary Limited ("the Seller"), entered into a Sale of Letting
Enterprise 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 to the Purchaser ("the Disposal").
Shareholders are advised that the due diligence and valuation have been
completed and the information relating to the Property is set out below:
Property Location Sector GLA Single or Weighted
mSquared Multi- average rental
tenanted (including
parking) per
mSquared (Rand)
Erf 712, Fairland Retail 2,689 Multi- R77.67
Portion 1 mSquared tenanted
of Erf
713 and
remaining
extent of
Erf 713,
Fairland
Township
Vacancy by Annualised property Disposal Price
rentable area selling yield %
mSquared
196.31mSquared 12% R16,850,000
Note:
1. As at 04 May 2012, the value of the property listed above of
R16,850,000 was arrived at by the independent external property
valuer, Hans Engelbrecht of Currie Property Expertise, which is
registered as Professional Associates Valuers in terms of the
Property Valuers Profession Act no. 47 of 2000.
2. Withdrawal of cautionary announcement
Having regard to the information disclosed above, shareholders are advised
that they no longer need to exercise caution when dealing in the company`s
securities.
Sandton
15 May 2012
Designated Advisor: Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 15/05/2012 13:39:03 Produced by the JSE SENS Department.
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