BONATLA PROPERTY HOLDINGS LIMITED - Voluntary Update on Suspension
BNT 201706290006A
Voluntary Update on Suspension
BONATLA PROPERTY HOLDINGS LIMITED
(Registration number 1996/014533/06)
Share code: BNT ISIN: ZAE000013694
(”Bonatla” or “the Company”)
VOLUNTARY UPDATE ON SUSPENSION
In accordance with paragraph 1.6 of the JSE Listings Requirements which deals with
the suspension of a company’s securities by the Johannesburg Stock Exchange
(“JSE”), shareholders are provided with an update on the Company’s status below.
As announced on 12 June 2017, the finalisation and release of the funding
arrangements with Kinfedi have taken longer than expected, with the agreement
being extended to 31 July 2017. Kinfedi has selected Bonatla as one of its strategic
partners due to certain of its existing proposed investment initiatives including
CPTech (activated carbon business), Ruitersvlei (agriculture and hospitality),
Kimberley Diamond Hub, Lincoln Meade and Jozini Projects.
The following has previously been announced:
- share-swap agreement for Kimberley Diamond and Jewellery Hub
announced on 5 May 2014;
- share-swap agreement for Lincoln Meade Park announced on 5 May 2014;
- acquisition of Grande Roche Estates and Grande Roche Hotel on 23
December 2016; and
- acquisition of the Ruitersvlei Property Portfolio on 30 November 2016.
The Company believes that the above transactions will enable it to meet the
requirements of Section 4.28 of the JSE Listings Requirements following the conclusion
of the above and previously announced transactions.
The Company is making progress with the drafting of the Circular to shareholders
regarding, inter alia, the information regarding the acquisition of the Bluezone
portfolio and other previously announced transactions. The Company remains in the
process of finalising the publication of overdue results, which it expects to achieve
during the third quarter of 2017.
As separately announced, shareholders are still required to exercise caution when
dealing in the Company’s shares.
By order of the board
Johannesburg
29 June 2017
Sponsor
Arbor Capital Sponsors Proprietary Limited
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