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DELTA PROPERTY FUND LIMITED - Renewal of joint cautionary announcement

Release Date: 09/12/2019 09:00
Code(s): DLT REB REA     PDF:  
Wrap Text
Renewal of joint cautionary announcement

 DELTA PROPERTY FUND LTD                                                   REBOSIS PROPERTY FUND LTD
 (Incorporated in the Republic of South Africa)       (Incorporated in the Republic of South Africa)
 (Registration number 2002/005129/06)                           (Registration number 2010/003468/06)
 JSE share code: DLT                                         JSE share codes: REA ISIN: ZAE000240552
 JSE Alpha code: DLTI                                                         REB ISIN: ZAE000201687
 (Approved as a REIT by the JSE)                                                JSE alpha code: REBI
 (“Delta”)                                                           (Approved as a REIT by the JSE)


Shareholders of Delta and Rebosis (the “Parties”) are referred to the joint cautionary announcements
released on SENS on 6 August 2019, 18 September 2019 and 28 October 2019 (“the
Announcements”), advising that the respective boards of the Parties have, in-principle, agreed to
enter into exclusive merger discussions in order to effect a potential transaction, subject to various
outstanding matters, stakeholder engagement and support (“Merger”).

Merger progress

Subsequent to the Announcements, the Parties are continuing to engage major shareholders and
funders to obtain support for a potential capital raise that should contribute to lowering gearing. Key
stakeholders, and in particular with regards to the potential capital raise, are following their due
process regarding the potential Merger terms. While they have indicated their in-principle support for
the potential Merger, further information has been requested to complete their assessment. The
information requested has been provided and once the process is concluded, the Parties will revert to
the market with an update.

Renewal of Cautionary Announcement

Accordingly, Delta and Rebosis shareholders are advised that, as discussions between the Parties are
still ongoing, shareholders should continue to exercise caution when dealing in the securities of Delta
and Rebosis, until a further announcement is made.


9 December 2019
Transaction Advisor and Transaction Sponsor to                  Transaction Advisor to Rebosis

PSG Capital                                                     YW Capital

Sponsor to Delta and Rebosis

Nedbank Corporate and Investment Banking             
Date: 09-12-2019 09:00:00
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