Bonatla Property Holdings Limited - Acquisition Of Properties, Extension Of
Interest Rate Swap Agreement And Further Cautionary Announcement
BONATLA PROPERTY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1996/014533/06)
Share code: BNT ISIN: ZAE000013694
(`Bonatla` or `the company`)
ACQUISITION OF PROPERTIES, EXTENSION OF INTEREST RATE SWAP AGREEMENT AND FURTHER
CAUTIONARY ANNOUNCEMENT
1. Acquisition of properties
On 4 August 2005 Bonatla entered into an agreement with Alpina Investments
Limited (`Alpina`) to acquire properties from Ixia Trading 532 (Proprietary)
Limited (`Ixia`), a subsidiary of Alpina, for a total consideration of R9 500
000 to be settled by the repurchase by Alpina of the 9 022 199 `B` class Alpina
linked units held by Bonatla at 18,84 cents per linked unit.
The effective date of the transaction is subject to the fulfilment of various
suspensive conditions including the completion of a due diligence investigation,
the approval of mortgage bond facilities and various shareholder, JSE Limited,
Securities Regulation Panel and Competition Commission authority approvals.
2. Extension of interest rate swap agreement
Nedbank Group Limited has agreed to extend the date by which it shall receive
payment from the company in the form of preference shares, pursuant to the
termination of an interest rate swap, to no later than 31 October 2005.
3. Further cautionary announcement
Bonatla shareholders are advised that the audited results for the year ended 30
September 2004 and a detailed announcement will be published in September and
until then, Bonatla shareholders are advised to continue to exercise caution
when trading in shares of the company.
Johannesburg
15 August 2005
Sponsor
LPC Manhattan Moela (Proprietary) Limited
Date: 16/08/2005 07:06:03 AM
Produced by the JSE SENS Department
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