DENEB INVESTMENTS LIMITED - Category 2 Disposal Announcement

Category 2 Disposal Announcement

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")

CATEGORY 2 DISPOSAL ANNOUNCEMENT

1.   INTRODUCTION

     Shareholders are advised that on 19 August 2025, the Company, through its wholly-
     owned subsidiary, Sargas (Pty) Ltd ("Seller"), entered into an agreement ("Agreement")
     with Siana Property (Pty) Ltd (registration number 2019/250478/07) ("Purchaser") in
     terms of which the Seller will dispose of Erf 3813 Mobeni, Registration Division FT,
     Province of KwaZulu Natal, in extent 4,4126 hectares, situated at 9 Warrington Road,
     Mobeni, Durban and known as Mobeni Industrial Park ("the Property") to the Purchaser,
     as a going concern, for a consideration of R170,000,000 ("Disposal Consideration"),
     excluding VAT ("Disposal"). The Purchaser is a wholly owned subsidiary of Solena
     Property (Pty) Ltd (registration number 2017/509711/07), which is beneficially owned by
     individuals, none of whom are related parties of the Company.

2.   RATIONALE FOR THE DISPOSAL

     The Property is not considered core to the strategy of the Company.

3.   DISPOSAL CONSIDERATION

     The Disposal Consideration will be payable in cash by the Purchaser on the date of
     registration of transfer of the Property into the name of the Purchaser ("Transfer Date").

     The Disposal Consideration will be secured by the Purchaser, by way of an initial cash
     deposit of R4 000 000, to be paid into the conveyancers' trust account, and the balance
     thereof will be secured by the issue of a bank guarantee.

4.   APPLICATION OF THE DISPOSAL CONSIDERATION

     The Disposal Consideration will be used to settle outstanding debt.

5.   EFFECTIVE DATE OF THE DISPOSAL

     The effective date of the Disposal will be the Transfer Date, which is anticipated as being
     on or about the end of January 2026.

6.   CONDITIONS PRECEDENT AND SIGNIFICANT TERMS OF THE AGREEMENT

     The Agreement is subject to the fulfilment or waiver of the conditions precedent that the
     Purchaser pays the deposit into the conveyancers' trust account within seven days of the
     Signature Date and that the Seller delivers a signed board resolution to the conveyancers
     within ten business days after such payment of the deposit. In addition, the agreement is
     subject to the Purchaser obtaining within thirty days a Loan to be secured by the
     registration of a first mortgage bond over the Property and the Seller obtaining consent of
     the bondholder to release the bond over the Property. The agreement is also subject to
     obtaining Competition Commission approval, if applicable and the renewal of a lease
     agreement with an existing tenant on the Property.

     The Property is sold on a voetstoots basis, with the Purchaser having conducted a due
     diligence investigation to its satisfaction.

7.   FINANCIAL INFORMATION

     The value of the net assets comprising the Property as at 31 March 2025, being the date
     of the last audited consolidated financial statements of the Company, was R170 million.

     The profit after tax attributable to the Property for the year ended 31 March 2025, was
     R11,5 million, based on the management accounts of the property division of the Seller
     for the year ended 31 March 2025.

     The Company is satisfied with the quality of the relevant management accounts of the
     property division of Seller; however, shareholders are cautioned that they are unaudited.

8.   CLASSIFICATION OF THE DISPOSAL

     The Disposal constitutes a category 2 transaction in terms of the JSE Limited Listings
     Requirements.


Cape Town
19 August 2025

Sponsor
PSG Capital

Date: 19-08-2025 12:15:00
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.