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Notification in terms of section 45(5) of the Companies Act, No 71 of 2008
HYPROP INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/005284/06)
JSE share code: HYP ISIN: ZAE000190724
JSE bond issuer code: HYPI
(Approved as a REIT by the JSE)
("Hyprop" or "the Company")
NOTIFICATION IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT, NO 71 OF 2008
Notice is hereby given that, in terms of the provisions of section 45(5) of the Companies Act, No 71 of 2008, as amended
("Companies Act") and pursuant to the special resolution passed at the annual general meeting of the Company held
on 29 November 2023 authorising the board of directors of the Company ("the Board") to provide direct or indirect
financial assistance by way of loans, guarantees, the provision of security or otherwise, to any of its present or future
subsidiaries and/or any other company or corporation that is or becomes related or inter-related to the Company, the
Board has adopted a resolution authorising the Company to provide financial assistance in terms of section 45 of the
Companies Act ("financial assistance") to Balkan Retail N.V. ("Balkan Retail"), a wholly-owned subsidiary of the
Company, in the amount of €10 million, which exceeds one tenth of one percent of the Company's net worth.
The financial assistance relates to the refinancing by Balkan Retail of a €20 million loan, which was guaranteed by the
Company and due to mature in July 2024. €10 million of the maturing loan has been settled from Balkan Retail's
available cash and €10 million refinanced through a new revolving credit facility made available to Balkan Retail.
Balkan Retail's obligations under the new revolving credit facility have been guaranteed by the Company which
guarantee constitutes financial assistance in terms of section 45(1) of the Companies Act.
At the time of adopting the aforementioned resolution, the Board confirmed that, after considering the reasonable
foreseeable financial circumstances of the Company, it is satisfied that, immediately after providing the financial
assistance, the Company would satisfy the solvency and liquidity test, as contemplated by Section 4 of the Companies
Act and that the terms under which such financial assistance is given are fair and reasonable to the Company.
30 April 2024
Sponsor
Java Capital
Date: 30-04-2024 02:00:00
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