THE SPAR GROUP LIMITED - Finalisation and closing of the disposal of SPAR Poland
Finalisation and closing of the disposal of SPAR Poland
THE SPAR GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/001572/06)
JSE and A2X share code: SPP
ISIN: ZAE000058517
("SPAR" or the "Company" or the "Group")
FINALISATION AND CLOSING OF THE DISPOSAL OF SPAR POLAND
SPAR shareholders ("Shareholders") are referred to the announcement published by SPAR
on SENS on 4 September 2024 ("Initial Announcement"), as well as the update and annual
results announcements published on SENS on 21 November 2024 and 28 November 2024,
respectively, regarding the disposal of the Group's interests in SPAR Poland ("Disposal") and
are hereby advised that all conditions precedent as set out in the Sale and Purchase
Agreement ("SPA") have now been fulfilled. Accordingly, the Disposal has become wholly
unconditional and was implemented today, 31 January 2025.
In terms of the SPA, the terms of which are detailed in the Initial Announcement,
implementation of the Disposal is subject to a total estimated net recapitalisation payment by
the Group to SPAR Poland amounting to PLN590.7 million (R2 670.0 million, based on an
average blended ZAR/PLN exchange rate of R4.52 /PLN1) and subject to a standard audited
completion accounts close out process.
The Group would like to extend its gratitude to its employees and stakeholders for their
contribution to the Polish operations and to all parties involved in successfully concluding this
transaction.
Umhlanga
31 January 2025
Sponsor
One Capital
Date: 31-01-2025 11:54:00
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