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Marshall - disposal of immovable property
Marshalls shareholders were referred to the terms announcement published on SENS on Wednesday, 22 October 2025, wherein they were advised that the Company via its wholly owned subsidiary, Monteagle Property Holdings (Pty) Ltd., concluded a Disposal Agreement in terms of which it will dispose of the immovable property known as Nicol Garage, Durban, Kwa-Zulu Natal to Trestan Distributors (Pty) Ltd. (the "Purchaser") for a total consideration of R68.5 million.
The Company refers to the further terms announcement published on SENS on Monday, 27 October 2025, wherein it was confirmed that a R5 million non-refundable deposit has been paid by the Purchaser to the Conveyancing Attorney. The Disposal Agreement further requires the Purchaser to pay the remaining purchase price or, alternatively, provide a bank guarantee for the remaining balance of the purchase price within 30 days of final signature. The Company confirms that a First National Bank Ltd. guarantee has now been received securing payment of the balance of the purchase price of R63.5 million. The total purchase price is payable to the Company upon registration of transfer of property title.
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