Spanjaard Group Ltd. entered into non-binding expression of interest to acquire the remaining 28.25% stake in Spanjaard Limited (JSE:SPA) for ZAR 9 million on April 16, 2021. The offer would be implemented by way of a scheme of arrangement. Under the terms, offer price is ZAR 3.9 per share. Offer is to delist Spanjaard. Independent board committee consist of Messrs. M Notrica, SS Zikalala, HF Kocks and S Vassaan Makan. Transaction is subject to Independent Board committee of Spanjaard Limited, shareholders of Spanjaard Limited and regulatory approval. Spanjaard Group Ltd will be delisted from JSE limited. Spanjaard Limited are advised that, at the Scheme Meeting held on November 26, 2021 that's shareholders have approved the transaction. Transaction is expected to be finalized on December 13, 2021. and expected to be implement on January 10, 20222. Suez Capital Proprietary Limited acted as independent expert for Independent committee of Spanjaard Limited.