Further to the Company’s announcement released on SENS on 11 October 2022 and the subsequent update released on 28 October 2022, regarding the acquisition by the Company of the entire share capital of (“Steers Shares”) and claims against (“Steers Claims”) Steers Properties Proprietary Limited (“Steers Properties”) and the entire share capital of (“Halamandaris Props Shares”) and claims against (“Halamandaris Props Claims”) Halamandaris Props Proprietary Limited (“Halamandaris Property”) (collectively the “Acquired Companies”) from Messrs Panagiotis Halamandaris, Periklis Halamandaris, Theofanis Halamandaris and John Lee Halamandres (collectively the “Sellers”) (the “Transaction”). Shareholders are advised that all conditions precedent to the Transaction have been fulfilled.

In terms of the agreement governing the Transaction, the closing of the Transaction took place today on 22 February 2023 (“Closing Date”).

In terms of the agreement, R181 million was paid to the Sellers on the Closing Date. 22 February 2023.

Sponsor and Corporate Broker
The Standard Bank of South Africa Limited

Independent Expert
BDO Corporate Finance (Pty) Ltd

Legal Adviser