Try our mobile app
York Timber Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1916/004890/06)
Share code: YRK
ISIN: ZAE000133450
(“York” or the “Company”)
INCREASE IN THE TERM LOAN FACILITY AND UPDATE REGARDING THE ACQUISITIONS OF
ADDITIONAL FARMS INCLUDING STANDING TIMBER
Shareholders of York (“Shareholders”) are referred to the announcements published on SENS on:
• Wednesday, 5 June 2024 and Wednesday, 21 August 2024, wherein Shareholders were advised
that the Company, through its wholly owned subsidiary, York Timbers Proprietary Limited
(the “Purchaser”), had entered into sale agreements with Stevens Lumber Mills Proprietary Limited
(the “Seller”) to acquire several properties, including, inter alia, the standing timber thereon
(“Acquisitions”), from the Seller. The Acquisitions were subject to, inter alia, the Purchaser
obtaining financing for a portion of the purchase consideration (“Funding Condition”); and
• Friday, 12 April 2024, wherein it was advised that the Company had entered into a term facility
agreement with, inter alios, Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden
N.V., in respect of a new R350 million long-term loan facility (“Term Facility”).
Shareholders are hereby advised that the Funding Condition has been fulfilled through a successfully
concluded agreement to increase the Term Facility by R75 million (“Additional Funding”), under the
same material terms and conditions as the original Term Facility. The Additional Funding will be used
to settle the remaining purchase consideration pursuant to the Acquisitions.
Accordingly, all of the suspensive conditions in relation to the Acquisitions have now been fulfilled and
the Acquisitions have become wholly unconditional. The registration and transfer of the properties to
the Purchaser will commence following payment by the Purchaser to the Seller of the remaining portion
of the purchase consideration.
Sabie, Mpumalanga
24 January 2025
Sponsor
One Capital
