BONATLA PROPERTY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
JSE code: BNT ISIN: ZAE000013694
(Registration number 1996/014533/06)
("Bonatla")
FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement published on 13 March 2003, Bonatla
shareholders are hereby advised that the directors of Bonatla have elected to
decline the offers from both Redefine Income Fund Limited and Fairvest Property
Holdings Limited to acquire the entire property portfolio of Bonatla and its
subsidiaries.
The directors of Bonatla have taken this decision based on the fact that
Momentum Property Investments (Proprietary) Limited has entered into a
conditional agreement with Bonatla shareholders holding 51,5% of the Bonatla
shares in issue in order to acquire their Bonatla shares. Subject to the
satisfactory completion of a due diligence investigation, the acquisition of the
vendor shares will be implemented as part of an offer to all Bonatla
shareholders to acquire their Bonatla shares ("the proposed offer").
Bonatla shareholders are advised to continue to exercise caution in dealing in
their Bonatla shares until such a time as a further announcement regarding the
proposed offer is made.
Sponsor
GRANT THORNTON KESSEL FEINSTEIN
CORPORATE SPONSORS (PROPRIETARY) LIMITED
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