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Implementation of Category 2 Disposal Of 100 Fairways, N1 City
SPEAR REIT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2015/407237/06)
Share Code: SEA
ISIN: ZAE000228995
LEI: 378900F76170CCB33C50
Approved as a REIT by the JSE
("Spear" or "the Company")
IMPLEMENTATION OF CATEGORY 2 DISPOSAL OF 100 FAIRWAYS, N1 CITY
Shareholders are referred to the announcements published on SENS on 21 June 2024 and 22 October 2024
("Announcements"), regarding the disposal by Spear of the property known as Erf 23427 Parow, City of Cape
Town, situated at 100 Fairway Close, Parow Golf Course, Cape Town ("Property"), and the rental enterprise
conducted by Spear on the Property, as a going concern ("Disposal"), for a disposal consideration of
R160 million ("Disposal Consideration").
Spear is pleased to advise that the implementation of the Disposal was finalised on 29 November 2024, on
which date the transfer of ownership of the Property was registered and Spear received the Disposal
Consideration. As advised in the Announcements, Spear had no debt drawn against the Property and the full
Disposal Consideration was utilised to reduce Spear' existing debt facilities. Following the implementation of
the Disposal, Spear's Loan to Value Ratio (LTV) is between 28% and 29%.
Cape Town
29 November 2024
Sponsor and Transaction Adviser Legal Adviser
PSG Capital ENSafrica
Date: 29-11-2024 01:00:00
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