Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 128

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4A
Chunk 128
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 no longer provided adequate space to accommodate the expected growth, resulting in the decision to demolish
and consolidate the properties to enable the erection of a head office suite for South Africa.

As at February 28, 2025, the total
cost for the redevelopment of the office premises, including the site, was ZAR 429.2 million. The complete asset, equates to an estimated
monthly long term lease cost of approximately ZAR 115 per square meter in comparison to the current market rate of approximately ZAR 140
per square meter, with an annual escalation of 8%. The new offices, including 404 parking bays, has a built-up area of approximately 31,800
square meters. Cartrack has moved into the new premises pursuant to lease agreements with Purple Rain. The leases of premises in Rosebank,
Johannesburg and another location in Randburg, Johannesburg, South Africa, are set out in Item 4. D “ Property, Plant and Equipment”.

  INTERESTS OF EXPERTS AND COUNSEL  

Not applicable.

Item 8. FINANCIAL INFORMATION