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

Release Date: 26/01/2022 13:00
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 11 November 2021, in relation to a Category 2 disposal of a rental enterprise by Invicta
 Properties (Pty) Ltd (the “Seller”) to Pathisa Properties Two (Pty) Ltd (the “Purchaser”) in
 respect of erfs 5434 and 859, Samrand Business Park (“the Property”), (altogether the “Sale

 Invicta is pleased to announce that the parties to the Sale Agreement have concluded a further
 addendum to the Sale Agreement, in terms of which:

  •   the Purchaser has made an additional non-refundable deposit of R1,000,000.00, (one
      million rand) resulting in a total non-refundable deposit of R16,000,000.00 (sixteen million
      rand) having been paid to the Seller;

  •   the Purchaser has furnished banker’s guarantees as required in terms of the Sale
      Agreement, less R10,482,750.00 (ten million four hundred and eighty-two thousand
      seven hundred and fifty rand) (the “Outstanding Purchase Price”);

  •   in settlement of the Outstanding Purchase Price, the Purchaser authorises the Seller to
      collect rental income due to the Purchaser in respect of the Property in monthly
      instalments of R600,000.00 (six hundred thousand rand), with effect from the last day of
      the second month following the registration of transfer of the Property until such time as
      the Outstanding Purchase Price is settled in full; and

  •   the Property shall transfer to the Purchaser as soon as possible.

 26 January 2022

 Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 26-01-2022 01:00:00
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