HYPROP INVESTMENTS LIMITED - Notification in terms of section 45(5) of The Companies Act 71 of 2008
HYP 201511170008A
Notification in terms of section 45(5) of The Companies Act 71 of 2008
HYPROP INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/005284/06)
JSE share code: HYP ISIN: ZAE000190724
(Approved as a REIT by the JSE)
(“Hyprop”)
NOTIFICATION IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT 71 OF 2008
Notice is hereby given to Hyprop shareholders in terms of the provisions of section 45(5) of the Companies
Act, 2008 (the "Act") that the board of directors of Hyprop ("the Board") has adopted a resolution to
provide financial assistance to its wholly-owned subsidiary, Hyprop Investments Mauritius Limited
("Hyprop Mauritius") for a loan facility amounting to USD70 000 000 ("the Facility").
Hyprop has furnished an indemnity for the obligations of Hyprop Mauritius in respect of the Facility,
including the provision of first covering mortgage bonds over certain of Hyprop's immovable properties.
The Facility will be utilised for the acquisition of a 75% interest in Ikeja City Mall, in Lagos, Nigeria.
The financial assistance has been granted pursuant to the authority granted to the Board by Hyprop
shareholders at the annual general meeting of Hyprop held on 25 November 2014.
In terms of section 45(3) (b) of the Act, the Board is satisfied that:
- immediately after the provision of the financial assistance, the Company will satisfy the solvency and
liquidity test set out in section 4 of the Act; and
- the terms under which the financial assistance is proposed to be given are fair and reasonable to
Hyprop.
17 November 2015
Sponsor
Java Capital
Date: 17/11/2015 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
