Sea Kay Holdings Ltd - Update on the acquisition of a property development in Kwa-Zulu Natal and further cautionary announcement
SKY
Update on the acquisition of a property development in Kwa-Zulu Natal and further cautionary announcement
SEA KAY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/004967/06)
JSE code: SKY
ISIN: ZAE0000
(Sea Kay or the Company)
UPDATE ON THE ACQUISITION OF A PROPERTY DEVELOPMENT IN KWA-ZULU NATAL
AND FURTHER CAUTIONARY ANNOUNCEMENT
UPDATE ON THE ACQUISITION OF A PROPERTY DEVELOPMENT IN KWA-ZULU NATAL
Shareholders are referred to the announcement dated 18 April 2012
(the Announcement), which contained details of an agreement to
purchase a 360 ha commercial and residential property development in
Kwa-Zulu Natal (the Transaction) and are advised that the:
1. time-frame for the delivery of the relevant guarantee as
mentioned in the Announcement has been extended by 21 working
days;
2. sourcing of funding from financial institutions is ongoing and
has not been finalised; and
3. negotiations regarding the other two potential property
acquisitions mentioned in the Announcement are ongoing.
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are therefore advised to continue to exercise caution
when dealing in the Company's securities until such time as the
matters set out above are finalised and the financial effects of the
Transaction are released.
Sandton
13 July 2012
Sponsor
Vunani Corporate Finance
Date: 13/07/2012 11:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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