HYPROP/ CENPROP/ CAPITAL/ PFM - GRANT OF COURT ORD
Hyprop Investments Centrecity Property Capital Property
Limited Fund Fund
(Registration No. ("Cenprop") ("Capital")
1987/005284/06) Share Code: CEN Share Code: CPL
("Hyprop") ISIN No: ZAE00001335 ISIN No:
Share Code: HYP ZAE00001731
ISIN No: ZAE00003430
(Unit trust funds managed in terms of
the Collective Investments Schemes
Control Act, No 45 of 2002 ("the Act")
by Property Fund Managers Limited
(Registration No. 1980/009531/06)
("PFM"))
GRANT OF COURT ORDER FOR WINDING-UP OF CENPROP AND FULFILMENT OF CONDITIONS
PRECEDENT
Corpcapital Corporate Finance, Edward Nathan & Friedland (Pty) Ltd and Sasfin
Bank Limited are authorised to announce that the High Court of South Africa
(Witwatersrand Local Division) granted an order on 18 March 2003 authorising the
winding up of the unit portfolio of Cenprop in terms of section 102(2) of the
Act.
Accordingly, all conditions precedent in the agreements for the disposal of The
Rosebank Mall and JHI House to Hyprop and 2 Long Street and Southway Mall to
Capital respectively, have been fulfilled.
The immovable properties comprising The Rosebank Mall and JHI House and 2 Long
Street and Southway Mall will be transferred to Hyprop and Capital respectively
as soon as possible.
Salient dates announcement
A further announcement will be published shortly on SENS and in the press in
which Cenprop unitholders will be advised of the amount and composition of the
distribution to Cenprop unitholders pursuant to the winding up ("the Cenprop
distribution") and the dates of the Cenprop distribution and the listing of the
Hyprop combined units and Capital units on the JSE.
Johannesburg
19 March 2003
Corporate advisors Sponsor to Hyprop Transaction Support
and legal advisors Corpcapital to Cenprop
to Hyprop and Corporate Finance Corpcapital
Capital Corporate Finance
Corpcapital
Corporate Finance
Corporate law Sponsor to Cenprop Trustee to Cenprop
advisors and and Capital and Capital
consultants to Sasfin Bank Limited ABSA Bank Limited
Cenprop
ENF (Pty) Ltd
Attorneys to Cenprop
Knowles Husain Lindsay Inc
Date: 19/03/2003 03:56:10 PM Produced by the JSE SENS Department
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