BRIEF-Vukile Property Fund Says Encha Properties Was In Breach Of Some Security Covenants In Terms Of Financing And Security Agreements

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BRIEF-Vukile Property Fund Says Encha Properties Was In Breach Of Some Security Covenants In Terms Of Financing And Security Agreements
Credit: © Reuters.

May 12 (Reuters) - Vukile Property Fund Ltd VKEJ.J :

* VUKILE PROPERTY FUND - ENCHA PROPERTIES WAS IN BREACH OF CERTAIN SECURITY COVENANTS IN TERMS OF FINANCING AND SECURITY AGREEMENTS

* VUKILE PROPERTY FUND LTD - INVESTEC HAS AGREED TO REDUCE ITS SECURITY COVENANT REQUIREMENTS

* VUKILE PROPERTY - ENCHA PROPERTIES AGREEING TO AFFORD INVESTEC 40% PARTICIPATORY INTEREST IN PROFITS DERIVED BY IT IN RESPECT OF ITS CO'S SHAREHOLDING

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