Vukile Property Fund Limited (JSE:VKE) agreed to make a mandatory offer to acquire remaining 65.1% stake in Atlantic Leaf Properties Limited (MUSE:ALPL.N0000) for ZAR 2.2 billion on September 20, 2017. Under the terms of the offer, Vukile agreed to pay ZAR 17.60 per share for all the shares of Atlantic Leaf not currently owned by Vukile. The board of Vukile Property Fund confirmed to have sufficient financial resources to fund the transaction. The offer is not conditional on any acceptance threshold and will be made on an unconditional basis. Certain shareholders holding 82.3 million shares in Atlantic Leaf have undertaken irrevocable undertakings not to accept the offer, additional holders of 5.11 million shares have made written confirmations not to accept the offer. The offer will be open for 35 to 60 days. Java Capital (Proprietary) Limited acted as corporate advisor while C & A Law acted as legal advisor to Vukile Property Fund.

Vukile Property Fund Limited (JSE:VKE) completed the acquisition of an additional 0.004% stake in Atlantic Leaf Properties Limited (MUSE:ALPL.N0000) for ZAR 0.13 million on December 8, 2017. Vukile Property Fund Limited acquired 7489 shares and now holds 65.96 million shares in Atlantic Leaf Properties.