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SAFARI INVESTMENTS (RSA) LIMITED - Safari Investments Market Update on Unrest in Gauteng

Release Date: 15/07/2021 09:55
Code(s): SAR     PDF:  
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Safari Investments Market Update on Unrest in Gauteng

Approved as a REIT by the JSE Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/015002/06)
Share code: SAR ISIN: ZAE000188280
(“Safari” or “the Company”)


In the wake of the current tragic circumstances and unrest in South Africa, Safari
Investments regretfully announces that three of its retail centres in Gauteng have become
targets of lawlessness and criminal activity. To date none of the Company’s other investment
properties have been affected.

Security measures at Thabong shopping centre in Sebokeng were breached, the centre
looted and severe damage caused to all shops. The situation remains volatile but at this
stage is under control. The property is insured from both a capital and income perspective.
We are mindful of the importance of grocery stores situated in our centres that provide food
and essentials for our communities. Together with our tenants, our service providers and
community forums we are already working on a recovery plan to get the Thabong centre
operational again.

Security measures at Denlyn shopping centre in Mamelodi, and Nkomo Village in
Atteridgeville, were also breached. At these centres the situation was rapidly brought under
control with minimal damage. Damage was repaired and these two centres were already re-
opened for trade on Wednesday, 14 July 2021 with no incidents or threatening behaviour
noted. Other than Thabong centre which is now under repair, all shopping centres in the
portfolio are currently open and trading. Safari has always strived for good relations with its
local communities and we find that our communities are supporting us now and playing an
invaluable role in protecting Safari’s centres.

The Company has SASRIA insurance in place. We are in contact with our insurers and a
claim has been registered with SASRIA. We will continue to appraise our risk strategies with
specific reference to staff and tenant safety, security at centres and insurance of our
properties. As the situation remains volatile shareholders will be advised of the full extent of
damage once finally assessed.

We continue to work with stakeholders to do everything in our power to restore calm, to
rectify the damages suffered and to get our centres fully operational again. We remain on
high alert while we are in close contact with our tenants and will continue to monitor the
situation closely at all our properties. We thank our on-site centre managers, service
providers and operational staff for their tireless commitment during this challenging time. We
also want to thank business forums, taxi associations and civilians within these communities
who assisted us to protect our shopping centres in the best interest of the communities we

15 July 2021

PSG Capital

Date: 15-07-2021 09:55:00
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