Vukile: Mandatory Offer to be made to the Shareholders of Atlantic Leaf Properties

Pursuant to Vukile’s participation in an accelerated equity book build undertaken by Atlantic Leaf Properties Limited on 13 September 2017, Vukile was allocated 23 152 709 Atlantic Leaf shares at a subscription price of R17,60 per share (GBP1.015). The ABO subscription shares were issued and delivered to Vukile, on a delivery-versus-payment basis, on Wednesday, 20 September 2017. Against transfer of the ABO subscription shares to Vukile, Vukile’s aggregate shareholding in Atlantic Leaf has increased to 65 951 117 ALP shares constituting 34.9% of the enlarged issued share capital of Atlantic Leaf. The transfer to Vukile of the ABO subscription shares have accordingly resulted in Vukile’s shareholding in Atlantic Leaf exceeding 30% of all voting shares in Atlantic Leaf.

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Refurbishment Program for Momentum Building

Encha has approved a R30 million refurbishment program for Momentum Building ('Momentum'). Momentum is a 38 000m2 property situated in Pretorius Street in Pretoria. It interleads with the very busy Tramshed Building. The refurbishment, which commenced in August 2016, is of the airconditioning units, plumbing and lifts. The lifts will be done in two phases.

Momentum is an excellent property that is old but structurally sound. It is well positioned in the Central Business District of Pretoria that has a lot of foot traffic, and within easy walking distance of major transport nodes.

After this project, Encha is lookong at a significant upgrade to the retail component of the property and a possible link to adjacent propeties to create retail space of a commercial scale. The refurbishment project should be concluded by February 2018. Encha Property Services (EPS) are the Project Managers of the upgrades of Momentum on behalf of Encha (PMB) (Pty) Ltd, the owners of the building.

Tiego Moseneke, Executive Chairman of Encha, said: 

'This refurbishment spend is our modest contribution towards th regeneration of inner-city Tshwane'.