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Deneb Investments Limited (JSE:DNB) News - Category 2 Disposal - Extension of Condition Precedent
DENEB INVESTMENTS LIMITED
Registration number: 2013/091290/06
(Incorporated in the Republic of South Africa)
JSE share code: DNB
ISIN: ZAE000197398
(“Deneb” or the “Company”)
CATEGORY 2 DISPOSAL - EXTENSION OF CONDITION PRECEDENT
Shareholders are referred to the announcement released on the Stock Exchange News
Service dated 1 April 2022, wherein shareholders were advised that the Company, through its
wholly-owned subsidiary Sargas Proprietary Limited (“Sargas”), entered into an agreement
(“Agreement”) with G S Prospects Proprietary Limited (registration number 2021/783664/07)
(“Purchaser”), in terms of which Sargas will dispose of the immovable property known as
Erf 8980, Worcester, Breede Vallei Municipality, Western Cape Province, in extent 40,2926
hectares (“Property”) together with the existing lease agreements in respect thereof, to the
Purchaser, as a going concern, for a disposal consideration of R43 500 000 (“Disposal
Consideration”) (“Disposal”).
The Disposal was subject to the Purchaser obtaining a loan against the registration of a first
mortgage bond over the Property by no later than 30 April 2022 (“Condition Precedent”).
Shareholders are advised that the parties have agreed to extend the date for the fulfilment of
the Condition Precedent to 19 May 2022.
Cape Town
29 April 2022
Sponsor
PSG Capital
Date: 29-04-2022 01:20:00
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