Stonehill Property Group Limited entered into an agreement to acquire Certain sections of Wale Street Chambers from Texton Property Fund Limited (JSE:TEX) for ZAR 24 million on December 15, 2021. Net proceeds will be utilised to repay debt and further strengthen Texton's balance sheet. In addition, the sale proceeds will provide flexibility for future opportunities to diversify investment into other asset classes which appear attractively priced. By no later than 12 April 2022, the Stonehill Property Group Limited confirms in writing that it is satisfied with its due diligence investigation undertaken in respect of the Wale Street Chambers sections; the Stonehill Property Group Limited confirms and provides written confirmation of the leasing terms agreed with the tenants or prospective tenants; the Stonehill Property Group Limited provides written irrevocable funding commitments for the aggregate amount equal to the Disposal 1 Purchase Consideration; The Texton Property Fund Limited obtains the consent of the mortgagees in respect of any mortgage bonds registered over any of the Disposal Properties, in relation to the implementation of the disposal and to the cancellation of the mortgage bonds upon transfer; and Finalisation of all requisite board approvals. The Sale Agreement ontain standard warranties and undertakings by both the Stonehill Property Group Limited and Texton Property Fund Limited, typical for a transaction of this nature. Investec Bank Limited acted as as corporate advisor and sponsor.

Stonehill Property Group Limited completed the acquisition of Certain sections of Wale Street Chambers from Texton Property Fund Limited (JSE:TEX) on December 15, 2022 which is an estimated closing date.