SRL - S A Retail - Amendment to the terms of the a
SAC SRL
SAC
SRL - S A Retail - Amendment to the terms of the acquisition of the Sharemax
Portfolio and further cautionary announcement
S A RETAIL PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/025764/06)
(JSE Code: SRL & ISIN Code: ZAE000034328)
("SA Retail" or "the Company")
AMENDMENT TO THE TERMS OF THE ACQUISITION OF THE SHAREMAX PORTFOLIO AND FURTHER
CAUTIONARY ANNOUNCEMENT
Linked unitholders are hereby advised that the terms of the transaction, whereby
SA Retail had agreed to acquire 10 properties from property owning companies
administered by Sharemax Investments (Proprietary) Limited ("Sharemax"), have
been amended.
As mentioned in the previous announcement 17 November 2006, SA Retail were still
in discussions with Sharemax with regards to the purchase consideration of one
of the properties. In terms of the variation agreement entered into with the
seller of the Montana Crossing property, the purchase consideration in respect
of this property has been amended from R167 300 000 to R197 000 000.
Accordingly, the aggregate consideration in respect of the transaction has
increased from R995 845 291 to R1 025 545 291. This increase has no impact on
the acquisition yield.
A further announcement will be made in due course providing the financial
effects of the acquisition on SA Retail. Accordingly, linked unitholders are
advised to continue exercising caution when dealing in the linked units of SA
Retail until such announcement is made.
Johannesburg
20 December 2006
Corporate Adviser Sponsor
Grindrod Bank Ltd Exchange Sponsors (Pty) Ltd
Date: 20/12/2006 17:54:01 Produced by the JSE SENS Department.
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