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HYPROP INVESTMENTS LIMITED - Hyprop takes next step in reducing its exposure to Sub-Saharan Africa

Release Date: 05/08/2019 11:25
Code(s): HYP     PDF:  
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Hyprop takes next step in reducing its exposure to Sub-Saharan Africa

HYPROP INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/005284/06)
JSE share code: HYP ISIN: ZAE000190724
JSE bond issuer code: HYPI
(Approved as a REIT by the JSE)
("Hyprop")


HYPROP TAKES NEXT STEP IN REDUCING ITS EXPOSURE TO SUB-SAHARAN AFRICA


Further to Hyprop's stated intention to reduce its exposure to its African investments, shareholders are 
advised that Hyprop and AttAfrica Limited ("AttAfrica") have concluded an agreement to dispose of their 
interests in Manda Hill Shopping Centre in Zambia ("the disposal"). The 42 000m2 mall is owned 50% by 
Hyprop Investments (Mauritius) Limited and 50% by AttAfrica, in which Hyprop owns a 37.5% stake.

The sale price is in line with Hyprop's valuation of the Manda Hill Shopping Centre at 31 December 2018
and the disposal is not expected to have a material effect on the price of Hyprop's securities. Hyprop's 
share of the disposal proceeds will be used to settle a portion of its US Dollar denominated debt.

Hyprop is in discussions with several parties regarding the disposal of the remaining African shopping malls
in which it has interests.

The disposal is not a categorisable transaction for Hyprop in terms of the JSE Listings Requirements and the
disclosures provided in this announcement are voluntary and for information purposes only.

5 August 2019


Sponsor
Java Capital

Date: 05/08/2019 11:25:00
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