The Competition Commission has approved a bid by ApexHi Properties to buy the shares it did not already own in Ambit Properties.

ApexHi has re-fixed its existing fixed term loans, extended its debt capital market finance arrangement (conduit funding) with Standard Bank by a further R500-million, and renegotiated its costs and margins on its conventional funding, which will save the company some R7,5-million per annum in finance charges.

Renegotiated terms benefit unit holders

Apexhi Properties Limited has appointed William Michael Kirchmann as an independent nonexecutive director.