APEXHI PROPERTIES LIMITED - ANNOUNCEMENT
ApexHi Properties Limited
(Registration No. 1999/000238/06)
Share codes: APA ISIN codes: ZAE000033064
APB ZAE000033072
(the "ApexHi")
ACQUISITION OF ENTIRE PROPERTY PORTFOLIO OF SHOPS FOR AFRICA LIMITED ("SHOPS") -
UNCONDITIONALITY AND ADJUSTMENT IN PURCHASE PRICE
Java Capital is authorised to announce that further to the announcement
published on SENS on 5 December 2003:-
- the agreement (the "acquisition agreement") for the acquisition by ApexHi
of the entire property portfolio of Shops (the "portfolio") is now
unconditional;
- the pre-emptive right in respect of Golden Walk Shopping Centre in favour of
one of its tenants has been waived;
- the pre-emptive right in respect of Woolworths, Wynberg has been duly
exercised and as such, the Woolworths, Wynberg property will not form part of
the portfolio transferred to ApexHi.
Accordingly, the purchase price payable by ApexHi to Shops will be reduced by an
amount of R1 776 699 (as to R1 027 000 in cash and 55 533 consideration units).
ApexHi will take effective control of the entire property portfolio of Shops
(including Golden Walk Shopping Centre and excluding Woolworths, Wynberg) with
effect from 1 April 2004.
Johannesburg
15 March 2004
Corporate and legal advisor and sponsor
Java Capital (Proprietary) Limited
Date: 15/03/2004 03:00:02 PM Produced by the JSE SENS Department
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