Nutritional Holdings Limited (JSE:NUT) has entered into a Memorandum of Understanding to acquire Ukusekela Holdings (Pty) Ltd from The Wellness Trust 29 for ZAR 140 million on December 17, 2019. As of March 23, 2020, Nutritional Holdings Limited (JSE:NUT) has entered into an agreement to acquire Ukusekela Holdings (Pty) Ltd. The purchase consideration will be ZAR 140 million payable by a combination of cash and the issue of 2 billion shares of Nutritional Holdings shares at 4.5 cents per share and ZAR 50 million in cash. The transaction will be subject to the fulfillment of the following conditions within 150 days of the signature of the agreement including regulatory approvals from JSE Limited, Takeover Regulation Panel and the Competition Act and the approval by Nutritional Holdings shareholders. Exchange Sponsors (Pty) Limited acted as financial advisor to Nutritional Holdings. Nutritional Holdings Limited (JSE:NUT) cancelled the acquisition of Ukusekela Holdings (Pty) Ltd from The Wellness Trust 29 on September 29, 2020. Due to Covid-19 delays there have been non-fulfilment of certain of the conditions precedent and the Transaction has lapsed.