| Tue 21 Sep 2021, 12:45 | | HYPROP INVESTMENTS LIMITED - Proposed disposal of Delta City Mall in Podgorica |
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Proposed disposal of Delta City Mall in Podgorica
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”)
PROPOSED DISPOSAL OF DELTA CITY MALL IN PODGORICA
Further to the announcement by BIG Shopping Centers, Ltd. (“BIG”) on the Tel Aviv Stock Exchange on 20 September
2021, shareholders are advised that Hystead Limited (“Hystead”), in which Hyprop holds a 60% interest, has received
a non-binding offer from CEE BIG B.V (the “purchaser”), of which BIG owns 95%, to purchase Hystead’s entire
shareholding in the entity that owns Delta City Mall in Podgorica, Montenegro, based on a gross property value of
EUR95 million, and subject to customary net asset value adjustments (the “proposed transaction”).
The purchaser has concluded its due diligence investigation. The proposed transaction is subject to the purchaser
securing external bank financing for the purchase, approval from the anti-monopoly body in Montenegro and the
execution of a definitive sale agreement. If the proposed transaction is completed, the sale proceeds will be used to
reduce Hystead’s Euro-denominated debt.
Shareholders will be updated as the proposed transaction progresses.
21 September 2021
Sponsor
Java Capital
Date: 21-09-2021 12:45:00
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