DENEB INVESTMENTS LIMITED - Update On Category 2 Disposal – Lapse Of Agreement
Update On Category 2 Disposal – Lapse Of Agreement
DENEB INVESTMENTS LIMITED
Registration number: 2013/091290/06
(Incorporated in the Republic of South Africa)
JSE share code: DNB
ISIN: ZAE000197398
("Deneb" or the "Company")
UPDATE ON CATEGORY 2 DISPOSAL – LAPSE OF AGREEMENT
Shareholders are referred to the announcement released by the Company on 1 August 2025,
advising that Deneb's wholly-owned subsidiary, Sargas (Pty) Ltd, entered into an agreement
("Agreement") with Earth Instyle (Pty) Ltd ("Purchaser"), in terms of which it agreed to
dispose of the property situated at 195 Leicester Road, Mobeni, Durban ("Property"), to the
Purchaser, for a consideration of R48 500 000, excluding VAT ("Disposal").
Shareholders are hereby advised that the condition precedent requiring the Purchaser to pay
the deposit into the conveyancers' trust account within five business days of the signature date
of the Agreement was not fulfilled. As a result, the Agreement has lapsed and the Disposal
will not proceed.
The Company will continue to evaluate strategic options regarding the Property and will update
shareholders as appropriate.
Cape Town
11 August 2025
Sponsor
PSG Capital
Date: 11-08-2025 02:05:00
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