HelloChoice (Pty) Ltd entered into a sale of shares agreement to acquire 55% stake in Freshmark Systems (Pty) Ltd from Sebata Holdings Limited (JSE:SEB) for ZAR 24.8 million on December 15, 2022. HelloChoice to acquire 55 ordinary shares of ZAR 1.00 each for a purchase consideration of ZAR 24.75 million. The consideration is paid in cash in full on the third business day after the last of the suspensive conditions. the Purchaser completing a due diligence to its satisfaction in relation to Freshmark Systems and its business, Sebata obtains approval of the Disposal from its Board, to the extent necessary, Freshmark Systems has obtained the approvals of third parties with whom it has contracted, of the change of control of the Freshmark Systems, The Disposal is subject to the fulfilment of the following suspensive conditions by no later than February 28, 2023, or such later date as the parties to the Agreement. The effective date of the Disposal will be the Closing Date. The audited value of the net assets of Freshmark as at March 31, 2022 was ZAR 20.5 million. The audited profit after tax attributable to Freshmark for the year ended March 31, 2022 was ZAR 3.9 million. Merchantec Capital advised in the transaction.

HelloChoice (Pty) Ltd cancelled the acquisition of 55% stake in Freshmark Systems (Pty) Ltd. from Sebata Holdings Limited (JSE:SEB) on March 2, 2023.