Sharenet Sites 
Sharenet Sites
Sale of The Sanrock Resort And Conference Centre
Gooderson Leisure Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1972/004241/06)
JSE Share Code: GDN ISIN: ZAE000084984
(“Gooderson” or “the company”)
Sale of The Sanrock Resort And Conference Centre
1. INTRODUCTION
On 11 April 2016 Alawill Inv (Pty) Ltd (“Alawill”), a wholly owned subsidiary of Gooderson, has entered into
an agreement for the sale as a going concern, of the Gooderson Sanrock Resort & Conference Centre
(“Sanrock Resort”)(“the property”) to Lloyd and Mashudu Investment Group (Pty) Ltd (“the purchaser”),
subject to the terms and conditions described below (“the sale”).
2. RATIONALE FOR THE SALE OF SANROCK RESORT
The Sanrock resort did not fit the Gooderson business model and accommodation profile.
3. DESCRIPTION OF SANROCK RESORT
The SanRock resort is situated on Portion 77 of the Farm Rietspruit 412 Registration Division KR Limpopo,
160km from Johannesburg in the Waterberg and is situated 5km outside Modimolle (Nylstroom) and rest
in the heart of the Waterberg region in the Limpopo Province. The hotel consists of 30 twin rooms and 4
executive suites, 18 self-catering chalets which are fully furnished and equipped with a kitchenette, open
plan lounge and dining room area and an en-suite bathroom and five conference rooms which can
accommodate groups of 15 to 400 delegates
4. TERMS AND CONDITIONS OF THE SALE
4.1. On 11 April 2016 Gooderson entered into an agreement with the purchaser to sell the Sanrock Resort
for R11,500,000 subject to the following conditions precedent:
4.1.1 The Purchaser shall on or before 2 May 2016, deliver to the Conveyancers guarantees issued
by bank or other financial institution reasonably acceptable to the Seller for payment of
R11,500,000 in accordance with the provisions of the Agreement;
4.1.2 The purchaser obtains capital to finance the purchase price through the Industrial
Development Corporation (IDC); and
4.2 The purchase price is payable as follows:
4.2.1 R1,000,000.00 Deposit in the form of cash or a Bank Guarantee on or before 2 May 2016.
4.2.2 The balance on registration of transfer into the name of the purchaser.
4.3.1 The Purchaser of the property shall be entitled to take occupation of the property, subject to
the fulfilment of the suspensive condition, the Seller shall give and the Purchaser shall take
occupation of the Property on 1 June 2016.
4.3.2 The Purchaser shall for the period of occupancy, pay occupation rent in the amount of
R75,000.00 per month, excluding VAT, payable monthly in advance until the date of transfer in
the Deeds Office is effected.
5. PROFITS AND NET ASSET VALUE ATTRIBUTABLE TO THE PROPERTY
The Net Asset Value of the property as at 28 February 2015 was R 8.8 million and the loss generated by
the Property was R1,042,279. The proceeds will be used to reduce the outstanding debt of the company.
6. CATEGORISATION OF THE SALE
The sale is categorised, in terms of the JSE Listings Requirements, as a Category 2 transaction and does
not require shareholders’ approval.
7. FURTHER ANNOUNCEMENT
Shareholders will be notified once all the conditions precedent have been met.
15 April 2016
Durban
Designated Adviser
Exchange Sponsors
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