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Crookes - disposal and cautionary withdrawal
Crookes entered into an agreement to sell 100% of its Mozambique subsidiaries, Murrimo Macadamia Ltd. and Murrimo Farming Ltd., to AgDevCo Ltd. for USD2.00. The disposal follows a strategic review indicating the subsidiaries' ongoing dependence on financial support and debt obligations. The transaction will settle a USD5 million loan, currently approximately R89.3 million, which will be extinguished upon completion. Conditions precedent include approvals from Mozambican authorities and land use consents, with the deal expected to conclude by 31 December 2026. The disposal is classified as a category 2 transaction and does not require shareholder approval. Following publication of this announcement, caution is no longer required to be exercised by shareholders when dealing in the Company’s securities.
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