Mara Delta Property has updated its shareholders on the status of an acquisition, through a wholly-owned subsidiary, of the hotel known as Tamassa Resort.
The initial notice was released by the Company on the Stock Exchange News Service of the JSE Limited (“JSE”) and the website of the Stock Exchange of Mauritius Ltd (“SEM”) on 22 August 2016, 30 September
The company said Tamassa Resort, located in Bel Ombre, Mauritius and related rights, with the property in question to be leased back to the vendor through a ten year triple net lease (“Tamassa Transaction”).
Shareholders are advised that all conditions precedent in respect of the Tamassa Transaction have been fulfilled and that the parties will therefore proceed to implement the Tamassa Transaction in accordance with its terms.
Mara Delta has its primary listings on both the Main Board of the JSE and the Official Market of the SEM.
Mara delta was founded by Ashish Thakkar, he is also a major stake owner in Atlas Mara, a financial services group led by Bob Diamond.