Vic Diab agreed to acquire Advanced East Rand Day Hospital Proprietary Limited for ZAR 12.8 million on November 6, 2020. For the period ended on June 30, 2020, East Rand Day Hospital reported net assets ZAR 0.905249 million and profit after tax of ZAR 0.350976 million. The Transaction Agreement is subject to the fulfillment of the following suspensive conditions, by the Fulfillment Date, unless the conditions are waived by the relevant parties in terms of the Transaction Agreement, Vic Diab shall obtain the necessary funds and guarantee in writing that it has sufficient funds to pay the Transaction Consideration, Vic Diab shall conduct a due diligence investigation and will deliver to East Rand Day Hospital a due diligence notice if the purchaser is satisfied with the outcome of the investigation, Vic Diab will enter into a cession and delegation agreement with the owner of the premises located at 52 Olivia Road, Eveleigh Boksburg 1459 (the “Premises”), to cede and delegate the lease agreement between East Rand Day Hospital and the owner of the Premises, in terms of which the owner lets to East Rand Day Hospital who currently hires the Premises to perform the Business and such agreement has become unconditional with its terms, save for any condition requiring that the Transaction Agreement becomes unconditional, If the owner of the Premises and Vic Diab are unable to agree to the terms of the cession and delegation agreement then in the alternative, the lease agreement may be cancelled between the owner and East Rand Day Hospital and a new agreement may be concluded between the owner and Vic Diab, Vic Diab must obtain in writing, the relevant approval and authorization from the Department of Health to transfer the License from East Rand Day Hospital to Vic Diab. The costs of the transfer will be split between East Rand Day Hospital and Vic Diab, Advanced Health shall provide a written guarantee regarding the performance of East Rand Day Hospital and secure Vic Diab in writing against any liability in relation to claims by third party creditors against the Assets for a period of two years from the Effective Date. The guarantee is in the process of being negotiated, The parties shall obtain all the required regulatory approvals applicable to the Business and the sale of the Business, Both East Rand Day Hospital and Vic Diab shall be registered VAT vendors, East Rand Day Hospital shall provide a copy of the resolution of its board of directors and shareholders, unconditionally approving the Transaction, to Vic Diab, Vic Diab shall provide a copy of the resolution of its board of directors and shareholders, unconditionally approving the Transaction to East Rand Day Hospital, East Rand Day Hospital must provide written confirmation to Vic Diab that no Material Adverse Change has occurred in relation to the Business during the period between October 26, 2020 and the Fulfillment Date, East Rand Day Hospital must provide written confirmation to Vic Diab that all consents pertaining to the change of control provisions contained in the Continuing Contracts, between East Rand Day Hospital and counterparties have been obtained from such counterparties to the extent that the conclusion of the Transaction Agreement is approved and that such Continuing Contracts will continue in accordance with the existing terms after the Effective Date and East Rand Day Hospital must provide to Vic Diab, letters of confirmation from all third-party suppliers and/or creditors who currently have, or had in the past 12 months, any claim in relation to the Assets, including but not limited to ABSA Bank, which letters shall stipulate that such third-party creditor claims have been met and/or extinguished, or will be met and/or extinguished through receipt of payment of a portion of the Purchase Price. The transaction is expected to close on January 10, 2021. The Proceeds of the Transaction will be utilized towards settling outstanding creditors as at the Effective Date.