Thinkroom Consulting Proprietary Limited entered into an agreement to acquire 50% stake in Grindstone Accelerator Proprietary Limited from African Dawn Capital Limited (JSE:ADW) for ZAR 1.8 million on January 5, 2018. The total purchase consideration of ZAR 1.75 million will be payable in cash in three installments. ZAR 0.75 million will be payable on the effective date, ZAR 0.5 million on or before June 26, 2018, and ZAR 0.5 million on or before December 1, 2018. The deal is conditional upon, to the extent necessary, the shareholders and the Board of Directors of the parties having approved the entering into of the sale agreement and the other agreements, etc. The proceeds from the disposal will be applied primarily to reduce Afdawn’s outstanding tax liability with South African Revenue Service. The effective date of the disposal will be the business day immediately preceding the date on which the conditions precedent to the disposal, is fulfilled or waived (to the extent applicable), which date is anticipated to be January 15, 2018.