Balwin Properties Moves Towards US$121,400,000(R2 Billion) Delisting in PIC-Backed Buyout

Balwin properties is set to delist from the JSE and A2X following a proposed US$121,400,000(R2Billion) buyout by a consortium led by the CEO Steve Brookes and the Public Investment Corporation (PIC). The consortium has offered US$0.27(R4.35) per share in cash to eligible shareholders, representing a premium to recent trading prices.

The proposed transaction is aimed at addressing persistent share price disocunts to net asset value, limited market liquidity and the rising costs associated with maintaining a public listing. Operating as a private company is expected to provide Balwin with greater flexibility to align its capital structure with its long-term residential development pipeline.

The scheme secured support from shareholders representing approximately 63.5% of the eligible vote and remains subject to shareholder approval, regulatory requirements and competition authority clearance.

Advisory Team

CLIFFE DEKKER HOFMEYR INC (CDH)

Dane Kruger

Peter Hesseling

Jerome Brink

Susan Meyer

Nicholas Carroll

Theodore Pauw

Peter-Wallace Mathebula

Elham Shaik