Enhanced Investments - Financial Portal

Sandton City/City of Johannesburg Rates Dispute

Published: 2022-02-17 13:59:00 ET

Liberty Two Degrees Limited (JSE:L2D) News - Sandton City/City of Johannesburg Rates Dispute

LIBERTY TWO DEGREES LIMITED
Incorporated in the Republic of South Africa
(Registration number 2018/388906/06)
Share code: L2D ISIN: ZAE000260576
(“L2D”)


SANDTON CITY/CITY OF JOHANNESBURG RATES DISPUTE


The owners of Sandton City are aware of the social media comments relating to the drive embarked on by
the City of Johannesburg to terminate services to properties that are in any arrears. Sandton City's
municipal accounts are all up to date except that there is currently a dispute with the City of Johannesburg
regarding the rates and taxes for the centre.

Sandton City and the City of Johannesburg have agreed to hold over legal proceedings instituted by the
City of Johannesburg in respect of outstanding rates and taxes pending the finalisation of the Valuation
Appeal Board hearing to determine the correct valuation of Sandton City for rates purposes.

We continue to engage with the City of Johannesburg to resolve the matter. The centre is trading as normal.

L2D remains in a closed period and will release the annual results for the year ended 31 December 2021
on or about 28 February 2022.


Johannesburg
17 February 2022

Sponsor
Merchantec Capital

Investor Relations
Sumenthree Moodley
011 448 5500

Date: 17-02-2022 03:59:00
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329 South Oyster Bay Road #2085
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team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.