Dimatone Proprietary Limited propose to acquire VLU Buildings from Delta Property Fund Limited (JSE:DLT) for ZAR 7 million on September 29, 2023. The Property Two Disposal Consideration is ZAR 7.0 million exclusive of VAT, payable in cash, as follows: (a) ZAR 1.305 million non-refundable deposit (which has already been paid to Delta?s conveyancers); and (b) ZAR 5.695 million secured by way of guarantees to Delta, which guarantees are to be delivered within forty-five days from the date of signature of Sale Agreement Two. The Disposals are subject to fulfilment (or waiver, as the case may be) of the following conditions precedent: (a) within 10 business days of signature of Sale Agreement Two (?Signature Date Two?), Purchaser Two shall have provided Delta with a copy of the resolutions of the board of directors of Purchaser Two authorising Purchaser Two to conclude the Property Two Disposal on the terms and conditions of Sale Agreement Two; (b) within 10 business days of Signature Date Two, the board of directors of Delta shall have passed a resolution authorising Delta to conclude Sale Agreement Two on the terms and conditions of Sale Agreement Two; (c) within 60 calendar days of Signature Date Two, Delta has followed due process with regard to the notification of the Property Two Disposal to those tenants under leases which have the Right of First Refusal to acquire Property Two and each such tenant has waived and/or failed to exercise its Right of First Refusal within the time period provided for in the relevant lease; (d) within 120 calendar days after Signature Date Two, the parties have complied with the JSE Listings Requirements (insofar as this may be applicable to Sale Agreement Two or to any party), obtained such consents and approvals required (including, if applicable, shareholder approval) and have taken such corporate actions required to approve and ratify the entering into and implementation of Sale Agreement Two; and (e) 120 calendar days after Signature Date Two, to the extent necessary, any prior written approval required from the Competition Authorities has been obtained in respect of the implementation of the Property Two Disposal, in terms of the Competition Act evidenced by the issue of a merger clearance certificate.

Dimatone Proprietary Limited completed the acquisition of VLU Buildings from Delta Property Fund Limited (JSE:DLT) on May 15, 2024.