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METBOARD PROPERTIES LIMITED - ACQUISITIONS OF PROPERTIES
METBOARD PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/005425/06)
Share code:MPL ISIN: ZAE000014874
("Metboard")
ACQUISITIONS OF PROPERTIES
1. Introduction
Investec Bank Limited is authorised to announce that Metboard has entered into
various agreements ("the acquisition agreements") in terms of which Metboard has
acquired the properties detailed in 2 below ("the acquisitions") for an
aggregate purchase consideration of R74 million. All conditions precedent to
the acquisitions have been met and accordingly, the acquisitions are
unconditional.
2 The acquisitions
Details of the acquisitions
Property Purchase Location Gross Effective Vendor
description price lettable date
area
R" 000 m2
Herron 11,000 Booysens 2,252 On Blue Dot
transfer Properties
294 (Pty)
Ltd
Wingfield 7,050 Jet Park 6,558 On Casadee
transfer (Pty) Ltd
Richards 4,150 Midrand 2,460 On Graydon
transfer Property
projects
(Pty) Ltd
Monteer 21,525 Isando 29,221 On Dotcom
transfer Property
Investments
184 (Pty)
Ltd
Redwood 21,400 Roodekop 16,644 On Dotcom
transfer Property
Investments
184 (Pty)
Ltd "
PS Props 6,250 Boksburg 6,600 On Dotcom
North transfer Property
Investments
184 (Pty)
Ltd
Garfield 3,850 Alrode 6,487 On Dotcom
transfer Property
Investments
184 (Pty)
Ltd
3. Settlement of the acquisition consideration
The purchase consideration for each of the properties comprising the
acquisitions will be settled as follows:
Property Purchase Cash Rand Number of Issue
description price value of linked price of
linked units in linked
units in Metboard units in
Metboard Metboard
R" 000 R" 000 R" 000 (cents)
Herron 11,000 5,500 5,500 1,964,286 280
Wingfield 7,050 0 7,050 2,517,857 280
Richards 4,150 0 4,150 1,482,143 280
Monteer 21,525 11,839 9,686 3,459,375 280
Redwood 21,400 12,895 8,505 3,037,500 280
PS Props 6,250 3,838 2,812 1,004,464 280
Garfield 3,850 2,118 1,732 618,750 280
4. Rationale for the acquisitions
Metboard is actively seeking good quality industrial properties with long leases
that will enhance the portfolio and enhance earnings
5. Financial effects
The acquisitions will not have a material effect on the earnings per Metboard
linked unit, distribution per Metboard linked unit or net asset value per
Metboard linked unit.
Sandton
4 March 2004
Merchant bank Advisors to the vendors
Investec Corporate Finance Spirit Capital
Investec Bank Limited
Sponsor
Investec Bank Limited
Date: 04/03/2004 02:46:01 PM Produced by the JSE SENS Department
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