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The board has temporarily suspended the repurchase of shares in the light of high property portfolio vacancies and uncertainty regarding finance for the purchase of apartment blocks at OakHills Estate. Read more ...
All resolutions approved at the recent AGM
Shareholders approved all resolutions tabled at the recent AGM. Read more ...
COVID-19 update report
The board has issued a report to shareholders concerning the COVID-19 outbreak. Read more ...
The development and construction of 17 on Cluver in Stellenbosch has been completed with the issue of an occupation certificate by the Stellenbosch Municipality on 11 December 2019. Transfer of 16 sections that were sold has been registered by the deeds office. A further section that have been sold will be registered before 30 Aoril 2021. All of the unsold apartments have been leased for 2021 at good rentals. Marketing efforts are continuing to dispose of the remaining 9 sections. Click on www.17oncluver.co.za for details.
On 26 March 2020, the Stellenbosch Municipality issued approval for the development of OakHills Estate outside Stellenbosch. A sales agreement, subject to the successful approval of finance, for 7 blocks of apartments has been signed with a purchaser. We await confirmation of finance approval that is expected by the end of March 2021. The remaining 5 blocks of apartments will be purchased by City Capital. In the interim the property has been handed over to the appointed civil contractor for preparation and security of the site. Click on www.oakhills.co.za for details.
The board has made an announcement regarding a dividend for the second half of the 2019 financial year. Read more ...
Share repurchase at 60 cents per share
The board has announced an opportunity for shareholders of the company to dispose of their shares to the company at 60 cents per share.