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JSE code: REB ISIN: ZAE000156147 ( Rebosis or the Company ) PRE-LISTING STATEMENT The definitions commencing on page 9 of this pre-listing statement have, where appropriate, been used on this cover page. Prepared and issued in terms of the Listings Requirements of the JSE and the Companies Act relating to a private placement of 165 851 703 linked units in the capital of Rebosis at an issue price of R10 (ten Rand) per linked unit. Opening date of private placement (09:00) Closing dat.

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But the reasons for Rebosis' fall are multi-pronged and have persisted for years. Sudden changes in strategy including an expansion abroad as well as the slow payments from sovereign tenants, all led to unmanageable costs for the real estate investment trust (Reit).

Sisa Ngebulana - CEO - Rebosis Property Fund Ltd (REB) | LinkedIn.

Sisa Ngebulana-founded Rebosis Property Fund is going into business rescue, and its shares have been suspended on the JSE with immediate effect.

Rebosis is a JSE listed real estate investment trust (REIT) with a high quality diversified portfolio across commercial and retail assets. The majority of the commercial income enjoys a sovereign underpin from leases to national government departments across 36 buildings.

Rebosis listed on the JSE in 2011 with seven properties valued at R3. 3bn. At the end of February 2022, the JSE-listed real estate investment trust (Reit) had 41 office and retail properties valued at R13bn, with bank debt of R9. 5bn.

Sisa Ngebulana - CEO - Rebosis Property Fund Ltd (REB) | LinkedIn.

Debt-ridden Rebosis entered business rescue on August 26 2022, citing rising interest rates, the inability to recover increased municipal costs from sovereign tenants and continuous delay of rental payments by some government departments (accounting for more than half of group revenue).

He is also the Founder, Executive Chairperson and sole owner of Billion Group Limited, a multi-billion rand property company. SA Entrepreneurs Magazine estimates Ngebulana's net worth to be around R400 million.

Sisa Ngebulana-founded Rebosis Property Fund is going into business rescue, and its shares have been suspended on the JSE with immediate effect. The property company has been working on a turnaround plan to restructure and strengthen its balance sheet.

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