INDLUPLACE PROPERTIES LIMITED - Potential acquisition of the whole or a portion of a portfolio of residential properties and cautionary announcement
ILU 201706120041A
Potential acquisition of the whole or a portion of a portfolio of residential properties and cautionary announcement
INDLUPLACE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/226082/06)
JSE share code: ILU ISIN: ZAE000201125
(Approved as a REIT by the JSE)
(“Indluplace” or “the Company”)
POTENTIAL ACQUISITION OF THE WHOLE OR A PORTION OF A PORTFOLIO OF RESIDENTIAL PROPERTIES AND CAUTIONARY ANNOUNCEMENT
Shareholders are advised that the Company has entered into negotiations which could lead to the acquisition of residential
properties for a purchase consideration of approximately R1.4 billion (“the residential portfolio”)(“the proposed acquisition”).
The residential portfolio consists of approximately 2 900 residential units primarily located in Gauteng (96%), with the remainder
in KwaZulu-Natal (4%), which may be acquired from multiple vendors. The proposed acquisition also includes rights to acquire a
further pipeline of properties that are currently under development or refurbishment.
The proposed acquisition remains subject to the conclusion and signature of formal agreements (“the formal agreements”). In
this regard, shareholders are advised that the formal agreements are close to finalisation and a further announcement will be
released on SENS disclosing the terms of the formal agreements once they have been signed.
The proposed acquisition is in line with the Company’s strategy to grow its residential portfolio through acquiring yield enhancing
properties and portfolios that provide income from the first day of acquisition. The proposed acquisition will enhance the
Company’s current portfolio with diverse, well located, quality properties and further establishes Indluplace as the residential
income property consolidator in South Africa.
Shareholders are advised to exercise caution when dealing in the Company’s securities until a further announcement is made in
relation to the proposed acquisition.
12 June 2017
Sponsor
Java Capital
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