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ADRENNA PROPERTY GROUP LIMITED - Variation of Agreement

Release Date: 20/05/2019 17:07
Code(s): ANA     PDF:  
 
Wrap Text
Variation of Agreement

ADRENNA PROPERTY GROUP LIMITED
(Registration Number 1998/012245/06)
Share Code: ANA ISIN: ZAE000163580
(“Adrenna” or “the Company”)


VARIATION OF AGREEMENT


Shareholders are referred to the ‘Investment in East Sydney Day Hospital’ announcement
released on SENS on 7 September 2018 wherein they were advised that the Company had
entered into an agreement with The East Sydney Day Hospital Proprietary Limited (“ESDH”) in
terms of which the Company would subscribe for 2 million convertible, redeemable preference
shares issued by ESDH for an amount of A$ 2 million (two million Australian dollars) with effect
from 1 August 2018 (“Agreement”).

Shareholders are advised that the Agreement has been terminated by mutual consent. The
A$2 million initial loan advanced to ESDH in anticipation of shareholder approval of the
proposed preference share subscription will remain subject to the loan terms agreed at the
time of advancement of the cash and the Company will continue to earn interest on this loan
at a rate of 12 percent until the loan is repaid in 2021.


BY ORDER OF THE BOARD
Johannesburg
20 May 2019

SPONSOR
Arbor Capital Sponsors Proprietary Limited

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