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Trematon - proposed disposal of CML
Trematon entered into an agreement to sell 100% of the shares in its wholly owned subsidiary, Club Mykonos Langebaan (Pty) Ltd. (CML), to Variflex Trading 138 (Pty) Ltd. for R70 million in cash. The disposal, effective from the first day of the month following all conditions precedent, is part of Trematon’s strategy to streamline its portfolio and return surplus capital to shareholders. The sale is to a management-led consortium, including Trematon CEO A J Shapiro, ensuring operational expertise and certainty of execution. The net asset value of CML was R85.9 million as of August 2025, with a loss of R28.9 million for the year. Shareholder approval and a guarantee from a financial institution are required before completion.
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