Spear REIT receives unconditional approval for Maynard Mall acquisition

Spear REIT Limited announced that the Competition Commission has unconditionally approved its acquisition of Maynard Mall in Wynberg, Cape Town. The acquisition, initially announced on SENS on 28 July 2025, involves several properties within the City of Cape Town, along with the "Maynard Mall" rental enterprise. This approval marks a crucial step in the transaction, which was subject to various conditions precedent, including regulatory clearance.

Shareholders are advised that while the Competition Commission’s approval was granted on 2 September 2025, the acquisition remains subject to other outstanding conditions. Upon the fulfillment of these remaining conditions, the transaction will become effective on the date of registration of the transfer of the property.

The transfer of the property is currently anticipated to occur in January 2026. PSG Capital is serving as the sponsor and transaction advisor for Spear REIT Limited, with ENSafrica acting as the legal advisor.