GRINDROD LIMITED - Successful Fulfillment of Conditions Precedent Relating to the Disposal of Certain Assets to African Bank
Successful Fulfillment of Conditions Precedent Relating to the Disposal of Certain Assets to African Bank
(Incorporated in the Republic of South Africa)
(Registration Number: 1966/009846/06)
Ordinary share code: GND and ISIN: ZAE000072328
Preference share code: GNDP and ISIN: ZAE000071106
("Grindrod" or the "Group")
VOLUNTARY ANNOUNCEMENT UPDATE - SUCCESSFUL FULFILLMENT OF CONDITIONS PRECEDENT
RELATING TO THE DISPOSAL OF CERTAIN ASSETS TO AFRICAN BANK
As previously communicated to shareholders on 23 October 2024, GFS Holdings Proprietary Limited (the
"Seller"), a wholly owned subsidiary of Grindrod, reached agreement with African Bank Limited in terms of which
the Seller would dispose of its North Coast Property Loans and Investments for a cash consideration of
R500 million.
The Board is pleased to confirm that the suspensive conditions were fulfilled on 14 March 2025 and the Disposal
will close on 20 March 2025.
18 March 2025
Corporate Advisor and Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Legal Adviser to Grindrod Limited
Edward Nathan Sonnenbergs Incorporated
Date: 18-03-2025 03:00:00
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