The Board of Mara Delta Propoerty Holdings Limited have informed the general public that the Company intends to proceed with a rights offer at USD1.40 per share.

According to a press statement made available to Afriscaper, the proceeds of the rights offer will be utilised to finance the various investments of Mara Delta that have been announced to the market in recent months as well as other yield accretive assets.

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Further details on the rights offer, which will be subject to regulatory approvals, are due to be communicated in due course.

Shareholders of Mara Delta and the investing public have been advised to exercise caution when dealing in the shares of the Company and will be kept informed of any further developments.

LISTING OF NEW SUBSIDIARY ON THE STOCK EXCHANGE OF MAURITIUSย 

The shareholders of the Company and the public in general have been further informed that Mara Delta is in the process of setting up a subsidiary, in Mauritius, as an entity holding a Category 1 Global Business licence. The subsidiary will shortly thereafter apply for a listing of its Class B shares (preference shares) on the Official Market of the Stock Exchange of Mauritius Ltd (โ€œSEMโ€). The primary objective of the new subsidiary will be to invest into properties (directly or indirectly) with triple net, long term leases in the hospitality sector, focusing on the Indian Ocean islands, including among others Madagascar, Seychelles and Mauritius.

Mara Delta has its primary listings on both the Main Board of the JSE Limited and the Official Market of the SEM.

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