FULFILMENT OF CONDITION PRECEDENT TO THE DISPOSAL OF MEIKLES HOTEL IMMOVABLE PROPERTY, HOTEL BUSINESS AND RELATED HOTEL ASSETS.

Shareholders are referred to the resolutions of the Extraordinary General Meeting (“EGM”) held on 13 December 2019 and notice of the results of the EGM released on 19 December 2019. The Directors wish to advise shareholders that approval from Exchange Control Authorities has now been received for the Meikles Hotel disposal.

Processes to consummate the transaction are underway.

By Order of the Board

Thabani Mpofu
Company Secretary