SPEAR REIT LIMITED City Of Cape Town agreed to acquire Erf 23427 Parow, City of Cape Town from Spear Reit Limited (JSE:SEA) for ZAR 160 million on June 20, 2024. he Weighted Average Gross Rental ZAR 1.828 million. The Agreement is subject to the fulfilment of the condition precedent that the Disposal is unconditionally approved by the applicable competition authorities in terms of the Competition Act, No.
89 of 1998, or conditionally approved on conditions which are acceptable to the parties. The Condition Precedent must be fulfilled by not later than 120 days after the Signature Date, which date may be extended by the parties in writing. The expected completion of the transaction is December 1, 2024.
