Ooba Proprietary Limited, Fledge Capital Proprietary Limited, Betterhome Group Ltd entered into agreements to acquire 50.01% stake in Private Property South Africa Proprietary Limited from Cognition Holdings Limited for ZAR 150 million.

ooba Proprietary Limited, Fledge Capital Proprietary Limited, Betterhome Group Ltd entered into agreements to acquire 50.01% stake in Private Property South Africa Proprietary Limited from Cognition Holdings Limited (JSE:CGN) for ZAR 150 million on August 12, 2022. Consideration will be paid in cash. For the period ended June 30, 2022, Private Property South Africa reported net assets of ZAR 49.6 million.

Transaction is subject to approval of Cognition Holdings Limited shareholders and other conditions precedents. Transaction is expected to be closed on November 16, 2022. The board of directors of the Private Property South Africa has therefore constituted a subcommittee of the board to act as the independent board for the purposes of the disposal.