Modders - no more?

[Uni]

Just saw this on twitter

AECI has sold the land to a Chinese company more china malls and retail developments?

No more trail on my doorstep

 

They're holding on to the reserve but I guess time will tell.

The owners of the nearby larney estates aren't gonna be impressed.

 

https://bdfm.evolok.net/evolok-ui-web/safari.htm?domainName=bdfm.evolok.net&redirectTo=http://www.bdlive.co.za/business/property/2013/11/05/aeci-sells-modderfontein-land-to-chinese-company

Edited November 5, 2013 by Uni

[shaper]

The new colonialists of Africa....

[F111]

ANNOUNCEMENT RELATING TO THE DISPOSAL BY AECI OF ITS SURPLUS PROPERTY ASSETS AT MODDERFONTEIN

TO SHANGHAI ZENDAI PROPERTY LIMITED (THE “TRANSACTION”) AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

 

http://data.moneyweb.co.za/moneyweb/sharedata/scripts/sens.asp?id=222553

[dev null]

The Chinese are going to turn Jozi into Shenzhen.

Edited November 5, 2013 by Moridin

[Kranswurm]

And I have just bought a new card

[Markdeep]

Yeah I just saw that in the news. Pity but I guess it was inevitable with that location.

[CAAD4]

And I have just bought a new card

 

You have four months before armageddon....

Edited November 5, 2013 by CAAD4

[Eldron]

Easy of the pitchforks and rhetoric:

 

"AECI will retain ownership of the Modderfontein Reserve, a 275ha area zoned as private open space."

 

I'm guessing this is the reserve we ride in? Anyone with better knowledge of the area than me - please help!

[Wayne Potgieter]

My business partners wife works for hartland. The bike park will remain...no plans to change anything there. At least so far.

[Wez-O]

Easy of the pitchforks and rhetoric:

 

"AECI will retain ownership of the Modderfontein Reserve, a 275ha area zoned as private open space."

 

I'm guessing this is the reserve we ride in? Anyone with better knowledge of the area than me - please help!

Yes, the reserve is indeed the area where the bike park is situated, so presumable that will be unaffected.

[Eldron]

My business partners wife works for hartland. The bike park will remain...no plans to change anything there. At least so far.

 

Dankie Moemfie :-)

[CAAD4]

Maybe they will build a nice big mall with shops selling cheap stuff, or maybe a bike shop???

[Wayne Potgieter]

Maybe they will build a nice big mall with shops selling cheap stuff, or maybe a bike shop???

chinarello?

[F111]

Easy of the pitchforks and rhetoric:

 

"AECI will retain ownership of the Modderfontein Reserve, a 275ha area zoned as private open space."

 

I'm guessing this is the reserve we ride in? Anyone with better knowledge of the area than me - please help!

Yes it is The Chinese will get that to Read part of the sens

 

Post the completion of the Transaction, the AECI Group will retain approximately 1 300ha

of land at Modderfontein for current and future operational requirements, and future

disposals. It will also retain the Modderfontein Reserve, a 275ha area zoned as private

open space. AECI will continue to manage the land and buildings it owns in Somerset

West, Western Cape and Umbogintwini, KwaZulu-Natal, in the ordinary course of business.

 

In terms of the Framework Agreement, AECI has agreed to provide Shanghai Zendai with a

right of first refusal to acquire certain remaining Modderfontein assets held by AECI (the

“Remaining Assets”) for a period of 10 years post the Long Stop Date, and, if applicable the

extension thereof. In addition, during this period AECI shall not directly compete with the

Zendai Parties in the business of property development in respect of the Remaining Assets.

However, AECI will not be prevented from realising value from its other assets outside the

Remaining Assets in the ordinary course of business.

 

They will buy the Reserve and turn it in to a profit making venture of some sort

[CAAD4]

chinarello?

 

Give me more, give me more... Maybe a damn bike factory???

[Eldron]

Yes it is The Chinese will get that to Read part of the sens

 

Post the completion of the Transaction, the AECI Group will retain approximately 1 300ha

of land at Modderfontein for current and future operational requirements, and future

disposals. It will also retain the Modderfontein Reserve, a 275ha area zoned as private

open space. AECI will continue to manage the land and buildings it owns in Somerset

West, Western Cape and Umbogintwini, KwaZulu-Natal, in the ordinary course of business.

 

In terms of the Framework Agreement, AECI has agreed to provide Shanghai Zendai with a

right of first refusal to acquire certain remaining Modderfontein assets held by AECI (the

“Remaining Assets”) for a period of 10 years post the Long Stop Date, and, if applicable the

extension thereof. In addition, during this period AECI shall not directly compete with the

Zendai Parties in the business of property development in respect of the Remaining Assets.

However, AECI will not be prevented from realising value from its other assets outside the

Remaining Assets in the ordinary course of business.

 

They will buy the Reserve and turn it in to a profit making venture of some sort

 

AECI decided not to sell the reserve which means we can still ride our bikes there. Let's do that - its much more fun than bemoaning potentially bad things that may or may not happen in the future...