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BNT - Bonatla Properties Limited - Further caution 29 Jun 2012
BNT
BNT
BNT - Bonatla Properties Limited - Further cautionary announcement relating to
the conclusion of acquistion agreements by Bonatla
BONATLA PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1996/014533/06
("Bonatla" or "the company")
ISIN Code: ZAE 000013694 Share code: BNT
FURTHER CAUTIONARY ANNOUNCEMENT RELATING TO THE CONCLUSION OF ACQUISTION
AGREEMENTS BY BONATLA
Further to the cautionary announcement dated 18 June 2012, the Directors of
Bonatla are pleased to announce the signing of the following acquisition
agreements:
Name of Vendor Nature of Consideration
Company Being Acquisition
Acquired
Empowerprop Cash 100% of issued R100 to be settled in
(Pty) Ltd Outsourcing share capital plus cash with the
Management the assumption of assumption of all
Services (Pty) all liabilities in liabilities including
Ltd respect of a loan accounts to the
(Registration property portfolio value of R80 000 000.
Number: with a value of The Vendor has
2004/003875/07) R80 000 000. undertaken to
underwrite the value
of the properties in
return for a 50% share
on sales profits for
the duration of the
underwriting
agreement.
Guilder Business Park 75.1% of the The net consideration
Investments Development issued share of R175 000 000 will
(Pty) Ltd Trust capital, the be settled through the
(IT175/2012) assumption of issue of 175 000 000
liabilities to a ordinary shares in
maximum value of Bonatla to the Vendor
R70 000 000 plus at an issue price of
the rights to R1.00 per share. A
develop the negotiation fee of
property described R750 000 will be paid
as Portion 4 of in cash. Liabilities
ERF 6803 Pinetown to a maximum of R70
Registration 000 000 will be
Division FT assumed.
Province of Kwa
Zulu Natal in
extent 119, 0225
Hectares and the
remainder of 6803
Pinetown
Registration
Division FT
Province of Kwa
Zulu Natal in
extent 167, 1552
hectares.
Special Lake 75.1% of the R90 000 000 to be
Purpose Development issued share settled through the
Vehicle (SPV) Trust capital, the issue of 90 000 000
to be formed (IT173/2012) cession to the SPV ordinary shares in
pending of a 40 year Bonatla to the vendor
confirmation renewable lease at an issue price of
of agreement from R1.00 per share plus a
renegotiation Ntsinde Royal cash negotiation fee
of 40 year Jozini Holdings of R500 000.
lease (Pty) Ltd and the
agreement rights to develop
between the land described
Ntsinde Royal as Portion 7 & 6
Jozini of the farm
Holdings reserve No. 16 and
(Pty) Ltd and No 15836, which
Ingonyama land borders the
Trust Board Lake Jozini dam in
Kwa-Zulu Natal.
All of the above agreements are subject to due diligence investigations and
detailed terms announcements will be released on the conclusion of these due
diligence investigations to the satisfaction of Bonatla.
Shareholders are advised to continue to exercise caution when trading in Bonatla
shares until the full terms of the agreements are released on SENS.
Johannesburg
29 June 2012
Sponsor
Arcay Moela Sponsors (Proprietary) Limited
Date: 29/06/2012 17:49:40 Produced by the JSE SENS Department.
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