HCI - disposal in Whale Coast Village Mall
Shareholders were hereby advised that, on 7 January 2025, the Company's subsidiary, HCI-Whale Coast Village (Pty) Ltd. ("HCI-WCV") entered into a sale agreement (the "Agreement") in terms of which, inter alia, HCI-WCV has agreed to dispose of its 65% undivided share (in aggregate) in the rental enterprise conducted by it at Erf 2861, Sandbaai, Overstrand Municipality, Division Hermanus, Western Cape Province, commonly known as the "Whale Coast Village Mall" ("Rental Enterprise"), to Whale Coast Capital Investments (Pty) Ltd. (in respect of 40% of the aggregate undivided share in the Rental Enterprise) and Whale Coast Village Mall (Pty) Ltd. (in respect of 25% of the aggregate undivided share in the Rental Enterprise), for an aggregate purchase consideration of R600 000 000 (inclusive of VAT at 0%) (the "Transaction"). HCI indirectly owns 80% of the shares in HCI-WCV.
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