SKG Africa (Pty) Ltd entered into a portfolio sale agreement to acquire Portfolio of Properties from Rebosis Property Fund Limited (JSE:REB) for ZAR 650 million on September 5, 2023. The PSP was initiated in accordance with the approved BR Plan to facilitate the disposal of Rebosis Group assets in order to reduce the overall Rebosis group debt. The Disposal is in accordance with the PSP and is the culmination of a competitive process.

The proceeds of the Disposal will be used to reduce the existing indebtedness of the Rebosis group. The Disposal will become effective following the fulfilment or waiver of the conditions precedent referred to below, on the date of registration of transfer of ownership of the Disposal Properties into the name of Hemipac (?Transfer Date?) which are anticipated to be by or about February 28, 2024. Java Capital (Proprietary) Limited, Deloitte Africa and Cliffe Dekker Hofmeyr advised in the transaction.