Enza Construction (Pty) Ltd entered into a share sale agreement to acquire Tractionel Group from Consolidated Infrastructure Group Limited (JSE:CIL) for ZAR 7.5 million on February 22, 2021. ZAR 7.5 million comprises the base purchase price of ZAR 5 million plus an agterskot amount of ZAR 2.5 million payable in cash. The aggregate purchase price shall be apportioned as to ZAR 5 million to the Sale Claims and the balance as to the Sale Shares. The base purchase price is payable on the Completion Date and the agterskot amount is payable subsequent to the first anniversary of the Completion Date following the determination of the consolidated revenue of the Tractionel Group for the period between the Completion Date and the first anniversary of the Completion Date being not less than ZAR 300 million. Tractionel Group reported net liabilities of ZAR 128.4 million and net loss of ZAR 43.2 million for the year ended December 31, 2020. Transaction is subject to approval by the relevant Competition Authorities and all other regulatory approvals necessary for the implementation of the transaction, obtaining the approval of the board of directors and shareholders of Enza Construction (Pty) Ltd, Tractionel having effected payment to Consolidated Infrastructure Group of ZAR 10 million which amount is specifically excluded from the Sale Claims, approval from the National Empowerment Fund, in its capacity as an indirect shareholder of Enza Construction (Pty) Ltd, Enza Construction (Pty) Ltd confirming in writing to Consolidated Infrastructure Group that it is satisfied that no material adverse change has occurred and other closing conditions. Transaction is expected to complete by April 30, 2021. The proceeds from the transaction will provide Consolidated Infrastructure Group with the liquidity required to continue to meet its general and business rescue operating cost obligations (and thus avoid immediate liquidation) while the business rescue plan is being finalised. Enza Construction (Pty) Ltd completed the acquisition of Tractionel Group from Consolidated Infrastructure Group Limited (JSE:CIL) on May 3, 2021.