FAIRVEST PROPERTY HOLDINGS LIMITED - Shoprite Heidelberg Acquisition not proceeding
FVT 201602220032A
Shoprite Heidelberg Acquisition not proceeding
Fairvest Property Holdings Limited
Incorporated in the Republic of South Africa
(Registration number: 1998/005011/06)
Share code: FVT
ISIN: ZAE000203808
(Approved as a REIT by the JSE)
(“Fairvest” or “the Company”)
SHOPRITE HEIDELBERG ACQUISITION NOT PROCEEDING
Shareholders are referred to the Company’s SENS announcement dated
19 January 2016 (“Acquisition Announcement”), regarding the
conclusion of an agreement (“Acquisition Agreement”) to acquire the
shopping centre more commonly known as Shoprite Heidelberg (“the
Acquisition”).
As indicated in the Acquisition Announcement, the Acquisition was
subject to the fulfilment of certain conditions precedent, including
a due diligence investigation by Fairvest.
Shareholders are advised that matters subsequently identified by
Fairvest during the due diligence investigation necessitated an
adjustment to the terms of the Acquisition. Fairvest was unable to
conclude an adjustment with Vilhas Property CC and the condition
precedent detailed in paragraph 6.1.1 of the Acquisition
Announcement has therefore not been fulfilled, meaning that the
Acquisition Agreement has lapsed.
Accordingly, Fairvest will not be proceeding with the Acquisition.
22 February 2016
Cape Town
Sponsor
PSG Capital Proprietary Limited
Date: 22/02/2016 01:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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