Signing an 'option agreement' is NOT 'buying'.
There are many conditions that need to be satisfied, not least any deal must satisfy the current creditors of 1time.
This article give more detail.
Fastjet eyes Africa, offers R1 for 1time | Transport & Tourism | BDlive
Note the paragraph:
Hannes Muller of Tshwane Trust, 1time’s provisional liquidator, said the new shareholders would make an offer to 1time’s creditors, who are owed about R462m. If the creditors approved the arrangement, this would be submitted to court for sanction.
This little matter of R462m is missing from the Fastjet website.