Housing company RBA Holdings (RBA) said Monday it has entered into agreements to purchase two development properties through two of its subsidiaries, subject to various suspensive conditions.
The properties are located in the Pretoria and Midrand areas.
RBA said the acquisitions are in line with its business strategy to secure suitable land on an ongoing basis for the expansion of its property development portfolio. The purchase agreements were signed on 18 and 21 December 2009 respectively and are subject to the obtaining of bank loans for the purchase amounts.
As the agreements will only become perfected upon the fulfilment of these suspensive conditions, a detailed announcement containing the full financial effects will be made at the time.
RBA added that caution is therefore still required to be exercised by shareholders when dealing in their securities until a full announcement is made. – I-Net Bridge
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