Spear - acquisition of business park
Shareholders are referred to the announcement published on SENS on 21 May 2025 ("Announcement"), regarding the acquisition by Spear of the properties known as the Remainder of Erf 5400, the Remainder of Erf 5401, the Remainder of Erf 5428, Erf 11204, Erf 11205 and Erf 13058, Paarl, in the Drakenstein Municipality, with all improvements thereon ("Property"), and the rental enterprise known as the "Berg River Business Park" conducted on the Property, as a going concern ("Acquisition").
As stated in the Announcement, the Acquisition was subject to certain conditions precedent, including the approval of the applicable competition authorities in terms of the Competition Act, No. 89 of 1998 ("Competition Authorities"). Shareholders are advised that on 5 August 2025, the Competition Authorities unconditionally approved the Acquisition and that the last outstanding condition precedent has now been fulfilled.
Accordingly, the Acquisition has become unconditional and will be effective on the date of registration of transfer of the Property, which is anticipated to be during the month of October 2025.
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