Sharenet Sites 
Sharenet Sites
Update Regarding the Disposal of 15 On Orange Sectional Title Scheme
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”)
UPDATE REGARDING THE DISPOSAL OF 15 ON ORANGE SECTIONAL TITLE SCHEME
Shareholders are referred to the announcement released by the Company on SENS on
28 October 2020 advising shareholders that the Company had concluded a non-binding offer
to dispose of its shareholding in its wholly-owned subdiary that holds its sectional title interests
in the 15 on Orange Sectional Title Scheme.
Shareholders are hereby advised that, notwithstanding the successful conclusion of the due
diligence investigation and extensive negotiations by management, the proposed purchasers
provided a revised and unexpected variation to the non-binding offer. The variation terms were
different in nature and substance, materially altering the rationale behind managements initial
acceptance of the non-binding offer. In lieu of the above, the parties were unable to agree on
commercially suitable terms for both parties and accordingly negotiations have been
terminated.
Cape Town
22 February 2021
Sponsor
PSG Capital
Date: 22-02-2021 03:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
