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PEMBURY LIFESTYLE GROUP LIMITED - Update on Acquisition of Finch Haven

Release Date: 14/11/2018 09:15
Code(s): PEM     PDF:  
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Update on Acquisition of Finch Haven

PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“PL Group” or “the Company”)
ISIN Code: ZAE000222949      JSE Code: PEM


UPDATE ON ACQUISITION OF FINCH HAVEN


Shareholders are referred to the announcement published on SENS on 2 February 2018, wherein it was
advised that PLG Properties, a wholly owned subsidiary of PL Group had entered into an agreement
with Finch Haven Retirement CC, (the member of which is Mr N Georgiou) to acquire a property in
Fairland for a total purchase consideration of R16 million (“the Acquisition”). The property has not yet
been transferred to the Company.

Shareholders are advised that the Acquisition has subsequently been identified as an indirect related
party acquisition from a former material shareholder as per the definitions and section 10 of the JSE
Listings Requirements and will therefore require a fairness opinion from an independent expert. Should
the Acquisition be found to be unfair, shareholder approval will be required in General Meeting. A
further announcement will be made in due course.



By order of the board
Johannesburg
14 November 2018


Designated Advisor
Arbor Capital Sponsors

Date: 14/11/2018 09:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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