Conduit Capital's CRIH, CLL disposal agreement lapses

Conduit Capital Limited [JSE: CND] announced that the agreement for the disposal of its interests in CRIH and CLL to TMM Holdings Proprietary Limited ("TMM"), initially announced on May 24, 2023, has lapsed. The key condition for the disposal, involving PA’s approval, was not fulfilled by the extended deadline of May 16, 2025. As a result, the agreement is no longer in force, and neither party has any claims against the other. The initial agreement involved TMM acquiring the “Sale Interest” for an aggregate cash purchase price of ZAR55 million. The most recent update regarding the transaction was released on SENS on March 11, 2025.