Try our mobile app

Acquisition of Table Bay Mall update

Buy Hyprop Investments Stocks
Published: 2024-03-04 08:30:26 ET
<<<  go to JSE:HYP company page
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” or the “Company”)


ACQUISITION OF TABLE BAY MALL UPDATE


Shareholders are referred to the announcement released on SENS on 17 October 2023, wherein the Company
advised that it concluded a sale agreement with the Trustees for the time being of The Table Bay Mall Property
Trust, (the “Seller”), to acquire 100% of the commercial letting enterprise, including the property and lease
agreements relating to it, known as “Table Bay Mall” (“Transaction”). The Transaction was subject to a number
of conditions precedent (“CPs”).

As an update, Hyprop is pleased to announce that the following CPs have been fulfilled, specifically that:
 the Competition Commission has approved the Transaction without any conditions and formally referred the
    Transaction to the Competition Tribunal on 26 January 2024 with a recommendation for unconditional
    approval; and
 following a review process and a Tribunal hearing, the Competition Tribunal has granted their final decision
    and approved the Transaction without any conditions being imposed on any party.

Hyprop would like to thank all parties involved in the Transaction.

The only remaining CP is the transfer of the property to Hyprop, which is anticipated to take place in mid-
March 2024.


4 March 2024

 Sponsor                              Competition Law Advisor                Legal Advisor