Orion Hotels and Resorts (Pty) Ltd. entered into an agreement to acquire Delfisat (Pty) Ltd from Rebosis Property Fund Limited (JSE:REB) for ZAR 100 on July 12, 2019. In a related transaction, Orion Hotels and Resorts (Pty) Ltd. entered into separate agreements to acquire Delficraft Proprietary Limited, Clyroplex Proprietary Limited and Delfiflo Proprietary Limited from Rebosis Property Fund Limited for ZAR 100 each. Rebosis Property Fund Limited also entered into separate agreements to sell Delfiwiz Proprietary Limited, Lesasign Proprietary Limited and Delfitime Proprietary Limited to Edwin Henry Dednam for ZAR 100 each. Delficraft Proprietary Limited, Clyroplex Proprietary Limited, Delfisat (Pty) Ltd and Delfiflo Proprietary Limited collectively holds 29% stake in New Frontier Properties Limited. The Transaction is subject to conditions precedent which are standard for transactions of this nature and include obtaining the relevant consents from the financiers, to the extent required by no later than July 19, 2019. The closing date of the transaction will be on the first business day after the date on which the conditions precedent are fulfilled or waived. Cliffe Dekker Hofmeyr acted as legal advisor for Rebosis Property Fund Limited. Orion Hotels and Resorts (Pty) Ltd. cancelled the acquisition of Delfisat (Pty) Ltd from Rebosis Property Fund Limited (JSE:REB) on July 12, 2020.