Drift Super Sand (Proprietary) Limited, Furness Investments (Pty) Limited and AGW Trading (Pty) Limited signed term sheet to acquire Wearne Muldersdrift Quarry Business from WG Wearne Limited (JSE:WEA) for ZAR 9 million on January 29, 2019. Drift Super Sand (Proprietary) Limited, Furness Investments (Pty) Limited and AGW Trading (Pty) Limited signed a definitive agreement to acquire Wearne Muldersdrift Quarry Business from WG Wearne Limited (JSE:WEA) on December 3, 2019. Under the transaction, Furness Investments (Pty) Limited will purchase the Muldersdrift Quarry properties measuring 146 hectares in total for ZAR 35.5 million payable on transfer of the properties while AGW Trading (Pty) Limited will purchase the Muldersdrift Quarry assets, business and mining right for ZAR 18 million, payable ZAR 16 million on transfer of business and ZAR 2 million on transfer of the mining right. The transaction is subject to execution of formal agreements, finance being approved by a financial institution for Furness Investments (Pty) Limited and AGW Trading (Pty) Limited to fund the acquisition, approval by the necessary regulatory authorities, including the JSE Limited and Competition Commission to the extent required and approval by the Board and the shareholders of WG Wearne Limited. The transaction proceeds will be used by WG Wearne Limited for repayment of debt and to improve its liquidity position. The sale of the business is subject to Certain conditions precedent, within 7 days following the signature date, the purchase price shall be paid to an escrow agent, to be held in trust pending the fulfilment or waiver of the conditions. WG Wearne must advertise the sale within 7 days after receiving the payment. settlement of all the creditors within 31 days from the date of advertisement. Drift Super Sand (Proprietary) Limited, Furness Investments (Pty) Limited and AGW Trading (Pty) Limited cancelled the acquisition of Wearne Muldersdrift Quarry Business from WG Wearne Limited (JSE:WEA) on March 1, 2021.