Attacq, a property development and rental company has just disclosed that Keurprop Investments has sold off ZAR35 million worth of shares in the company.
The company said Keurprop Investments transaction was carried out by an associate of LLS van der Watt, a director of Attacq, for the purposes of providing funding to pursue an investment opportunity in an unrelated sector.
See below details of the transaction:
Name of associate: Keurprop Investments (Pty) Ltd
Name of director and relationship to director: LLS van der Watt, who is a trustee and discretionary
beneficiary of Keurwatt Trust, which owns 100% of
Keurprop Investments (Pty) Ltd
Transaction date: 14 March 2017
Class of securities: Ordinary shares
Number of securities: 2 000 000
Price per security: R17.67
Total value: R35 340 000.00
Nature of transaction: Off-market sale
Nature and extent of directors’ interest: Indirect beneficial
Attacq is a diversified property company with investment portfolio that includes iconic commercial and retail property investments. The company’s total assets was ZAR27.1 billion at 31 December 2016. Attacq is a co-owner of Ikeja City Mall.
Attacq acquired a 25% shareholding in Ikeja City Mall in Lagos, Nigeria in November 2015 with Hyprop Investments Limited acquiring the balance. The 22 349 m² Ikeja City Mall is one of Lagos’ premier shopping destinations and receives in excess of 650 000 shoppers per month.