HYPROP INVESTMENTS LIMITED - Hyprop reduces exposure to Africa
HYP HILB08 HILB09 HILB05 HILB06 HILB07 HILB10 HILB11 HILB12 HILB04 201906280033A
Hyprop reduces exposure to Africa
HYPROP INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/005284/06)
JSE share code: HYP ISIN: ZAE000190724
JSE bond issuer code: HYPI
(Approved as a REIT by the JSE)
("Hyprop")
HYPROP REDUCES EXPOSURE TO AFRICA
Further to Hyprop's stated intention to reduce its exposure to its African investments, shareholders are advised that
AttAfrica Limited ("AttAfrica"), in which Hyprop owns a 37.5% stake, has concluded an agreement to dispose of its
interest in Achimota Retail Centre in Ghana ("the disposal").
The sale price is in line with Hyprop's valuation of the Achimota Retail Centre at 31 December 2018 and the disposal
is not expected to have a material effect on the price of Hyprop's securities. Hyprop's share of the disposal proceeds
will be used to settle a portion of its US Dollar denominated debt.
Progress is being made on the disposal of the other African shopping malls in which Hyprop has interests and a further
announcement will be made at the appropriate time.
28 June 2019
Sponsor
Java Capital
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