BNT
BNT
Bonatla - Lifting of the suspension in trading of the company"s shares and
further cautionary announcement
BONATLA PROPERTY HOLDINGS LIMITED
(Registration number 1996/014533/06)
Share code: BNT & ISIN: ZAE000013694
("Bonatla" or "the company")
LIFTING OF THE SUSPENSION IN TRADING OF THE COMPANY"S SHARES AND FURTHER
CAUTIONARY ANNOUNCEMENT
Following the approval at general meeting by shareholders regarding:
* the assignment of the rights currently attached to the convertible "B"
preference shares owned by Depfin Investments (Pty) Limited, to be
attached to the 8000 000 cumulative redeemable "A" preference shares
and the subsequent conversion of the cumulative redeemable "A"
preference shares to convertible "B" preference shares;and
* The issue of 1000 000 convertible "B" preference shares to Depfin
Investments (Pty) Limited.
Based on the above restructure, The JSE is satisfied that Bonatla now
effectively has a positive net asset value as at 12 July 2006 (the date the
reviewed interim results of Bonatla were published in the press). The JSE
has therefore agreed to lift the suspension in the trading of Bonatla
shares with effect from the commencement of business on Monday, 23 October
2006 on the JSE under the following condition:
* that Bonatla will then be given six months from the date of lifting of
the suspension ("the effective date") to inject assets into the
company that are deemed appropriate in terms of the JSE Listings
Requirements. Should no assets acceptable to the JSE be injected into
Bonatla within the six month period as indicated above, then
Bonatla"s listing will be suspended again, and after a nine month
period from the effective date, Bonatla"s listing will be terminated
on the JSE.
FURTHER CAUTIONARY
Shareholders are advised that the cautionary referred to in the
announcement to shareholders dated 25 August 2006, is still in effect.
Accordingly, shareholders are advised to continue to exercise caution when
dealing in their Bonatla shares on the date the suspension is lifted.
Sandton
18 October 2006
Sponsor
Vunani Corporate Finance (Pty) Limited
Date: 18/10/2006 02:34:08 PM Produced by the JSE SENS Department
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