BNT
BNT
Bonatla - Changes To The Articles Of Association, Change To The Auditors of
The Company, And Further Renewal Of Cautionary
BONATLA PROPERTY HOLDINGS LIMITED
(Registration number 1996/014533/06)
Share code: BNT & ISIN: ZAE000013694
("Bonatla" or "the company")
CHANGES TO THE ARTICLES OF ASSOCIATION, CHANGE TO THE AUDITORS OF THE COMPANY,
AND FURTHER RENEWAL OF CAUTIONARY
Shareholders are advised that the company has entered into an agreement with
Nedbank Limited ("Nedbank"), whereby Nedbank has agreed to convert the 8 000 000
redeemable "A" preference shares that they hold in the issued share capital of
Bonatla, to 9 000 000 convertible "B" preference shares on such terms and
conditions as the existing "B" preference shares.
In order to give effect to the conversion, the articles of association of
Bonatla will need to be amended, which amendment is subject to the approval of
Bonatla shareholders in general meeting. A circular to shareholders in this
regard is in the process of being prepared, and shall be posted to shareholders
shortly.
In terms of section 3.75 of the JSE Limited ("JSE") Listings Requirements,
shareholders are advised that Bonatla has appointed, with immediate effect,
SizweNtsaluba VSP as auditors to the company, in order to further their policy
of utilising the services of empowerment companies.
Shareholders are referred to the SENS announcement dated 11 July 2006, and are
advised that the headline earnings per share figure for 31 March 2006 was
incorrectly stated as (1.321) cents per share. The correct figure should have
read (1.231) cents per share.
In addition, shareholders are advised that the previous cautionary is once again
renewed, as negotiations have reached an advanced state. Shareholders are
advised to continue to exercise caution when dealing in their Bonatla shares.
Sandton
27 July 2006
Sponsor
Vunani Corporate Finance (Pty) Limited
Date: 27/07/2006 02:49:45 PM Produced by the JSE SENS Department
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