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INVICTA HOLDINGS LIMITED - Further update on category 2 disposal of property

Release Date: 23/09/2021 16:43
Code(s): IVT IVTP     PDF:  
Wrap Text
Further update on category 2 disposal of property

Invicta Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/002182/06)
Ordinary Share code: IVT Ordinary Share ISIN: ZAE000029773
Preference Share code: IVTP Preference Share ISIN: ZAE000173399
(“Invicta” or “the Company”)


Shareholders are referred to the previous announcements, with the most recent
announcement dated 13 August 2021, wherein Invicta advised of a Category 2 disposal of a
rental enterprise by Invicta Properties (Pty) Ltd to Pathisa Properties Two (Pty) Ltd (the
“Purchaser”) in respect of erfs 5434 and 859, Samrand Business Park (“the Sale”).

The parties are still committed to conclude the Sale and have agreed to a further addendum to
the agreement, in terms of which:

  •   The Purchaser has made a further non-refundable deposit of R1,000,000.00 on 23
      September 2021, which means that the Purchaser has to date paid a total non-
      refundable deposit of R11,000,000.00;
  •   Furthermore, the Purchaser shall make a further non-refundable deposit of
      R3,000,000.00, before or on 30 September 2021 (bringing the total non-refundable
      disposal to R14,000,000.00 at 30 September 2021);
  •   Bank guarantees must be provided for the balance of the Purchase Price, by 29 October

Invicta remains positive that the deal will be successfully concluded.

23 September 2021

Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 23-09-2021 04:43:00
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