Wednesday, 29 March 2017 10:11

Listing of new subsidiary on the stock exchange of Mauritius Ltd and finalisation of the Tamassa resort acquisition

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Mara Delta, the only listed Africa focused distribution fund to offer international property investors direct access to immediate high growth opportunities on the continent outside of South Africa, today announced the introduction of the National Pension Fund Mauritius (“NPF”) as a key investor.

Tamassa_Resort_Mauritius

The NPF will invest US$12.84 million through a non-redeemable preference share issue at a coupon rate of 6.25% per annum.

Proceeds from the transaction have been allocated exclusively to fund the acquisition of the Tamassa Resort in Mauritius from Néréide Limited, a wholly-owned subsidiary of Lux Island Resorts Limited.

The resort is currently under transfer and is expected to contribute to the Group’s income with effect from 1 April 2017. 

Mara Delta earlier today informed shareholders that it is in the process of setting up a subsidiary with the primary objective of investing into properties with triple net, long-term leases in the hospitality sector, focusing on the Indian Ocean islands, including Madagascar, Seychelles and Mauritius.

The subsidiary is expected to apply for a listing of its preference shares on the Official Market of the Stock Exchange of Mauritius Ltd in due course.

The investment by Pension Fund Mauritius and the listing of a specialist subsidiary underscores Mara Delta’s commitment to the island’s economy and growth. 

Last modified on Wednesday, 29 March 2017 10:26

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