Rebserve Holdings Limited - Proposed establishment of a facilities management
entity between Propnet and Rebserve
Rebserve Holdings Limited
(formerly Rebhold Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1995/004153/06)
("Rebserve")
(ISIN: ZAE000034484)
(Share code:"RBV")
Proposed establishment of a facilities management entity between Propnet and
Rebserve
Rebserve Limited ("Rebserve"), a subsidiary of Rebserve Holdings Limited, has
been selected by Propnet, a division of Transnet Limited, ("Propnet") as its
preferred partner in a proposed joint venture facilities management exercise
between Propnet and Rebserve to establish a business case for a facilities
management entity ("FME") within Transnet. Rebserve was selected after an
extensive formal tender process in accordance with Transnet tender board
requirements.
It is proposed that the FME will be responsible for providing a total, one-stop
facilities management service to the occupants and owners of the properties in
Propnet`s portfolio. Propnet is the custodian of property within the Transnet
group, one of the largest land owners in South Africa with some 50 000 land
parcels worth in excess of R7 billion.
Propnet and Rebserve will work together to develop a strategic plan and business
case for the FME. This plan will examine ways in which property maintenance and
service delivery can be improved, cost efficiencies achieved and the value of
assets enhanced. It will also explore the ways in which emerging black-owned
companies and small, medium and micro enterprises can assist in the advancement
of black economic empowerment, particularly in previously neglected regions and
the more disadvantaged provinces.
It is anticipated that the strategic plan and business case, which require
approval from the Transnet board before implementation, will be finalised by
January 2003. The intention is that the new FME, if formed, will be operational
by April 2003. Any such entity will be majority-owned by Propnet with Rebserve
as an equity partner.
It is not possible at this stage to calculate or estimate the financial effects
on Rebserve as a result of Rebserve`s participation in the FME, as the financial
aspects are to be assessed and negotiated in the process of establishing the
business case referred to above.
A further announcement in this regard will be made during or about February
2003.
Issued by:
Sponsor:
Deutsche Securities (SA) (Pty) Limited
Date: 14/10/2002 11:01:14 AM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
