NAP clinches new deal

BG reporter
Tuesday, 05 September 2017
Riverwalk Mall Riverwalk Mall

New African Properties (NAP), the property company has concluded an agreement which is subject to conditions precedent. “If the conditions are fulfilled and the transaction concluded, it may have an effect on the price of its securities,” said a statement signed by Chairman John Mynhardt and Managing Director, Tobias Mynhardt.  The company, which owns prime properties such as Riverwalk and Kagiso Shopping Centre, has not disclosed further details concerning the deal they have clinched. “Accordingly, unitholders are advised to exercise caution when dealing in the company’s securities until a full announcement is made,” said the BSE listed company. The company’s recent financial results improved on the backdrop of low vacancy rates and lease escalations. For the six months period to January 2017, the NAP picked to P112, up 7, 7 percent when compared to the same period last year. 

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