Balwin Properties Limited announced shareholders are hereby advised that Balwin has concluded a Sale Agreement, with Tentacle Properties Proprietary Limited (the Seller) in terms of which Balwin has agreed to purchase the Properties on favourable payment terms which include a deposit and a payment per apartment over the life of the project to settle the outstanding balance (the Transaction). Balwin has agreed to acquire the following properties subject to certain terms and conditions: A portion of Portion 111 of Farm Rietvlei 101 IR, Province of Gauteng held under Certificate of Consolidated Title No. T69365/2017; measuring approximately 92,0724 hectares in extent; A portion of Portion of Remaining Extent of Portion 46 of Farm Rietvlei 101 IR, Province of Gauteng, held under Title Deed No. T78558/2009 measuring approximately 20,7448 hectares in extent; A portion of Portion 80 of Farm Rietvlei 101 IR, Province of Gauteng, held under Title Deed No. T78558/2009, measuring approximately 1 hectare in extent; A portion of Portion 84 of Farm Rietvlei 101 IR, Province of Gauteng, held under Title Deed No. T78557/2009, measuring approximately 25,5840 hectares in extent; A portion of Portion 76 (a portion of portion 41) of Farm Rietvlei 101 IR, Province of Gauteng held under title deed number T31175/2021 measuring approximately 6,0846 hectares in extent; A portion of Portion 77 (a portion of portion 42) of Farm Rietvlei 101 IR, Province of Gauteng held under title deed number T31175/2021 measuring approximately 6,0925 hectares in extent; Portion of Portion 16 of the farm Rietvlei 101 IR, Province of Gauteng held under Title Deed No. T22774/1947 measuring approximately 81,5062 hectares in extent; Portion of Portion 31 of the farm Rietvlei 101 IR, Province of Gauteng held under Title Deed No. T152184/2002 measuring approximately 2,9828 hectares in extent; Portion of Portion 34 of the farm Rietvlei 101 IR, Province of Gauteng held under Title Deed No. T152184/2002 measuring approximately 13,5608 hectares in extent; Portion of Portion 35 of the farm Rietvlei 101 IR, Province of Gauteng held under Title Deed No. T152184/2002 measuring approximately 22,8402 hectares in extent; Portion of Portion 36 of the farm Rietvlei 101 IR, Province of Gauteng held under Title Deed No. T152184/2002 measuring approximately 28,1144 hectares in extent; and Portion of Portion 62 of the farm Rietvlei 101 IR, Province of Gauteng held under Title Deed No. T152184/2002 measuring approximately 2,9828 hectares in extent. The value of the land to be acquired is at maximum ZAR 330,000,000 (excludingVAT). The land will not generate profits in isolation as the land will be developed into sectional title residential apartments and profits will be attributed to the sale of the respective apartments. In terms of the Agreement, the effective date of the Transaction will be the date that all conditions precedent are fulfilled.