BRIKOR LIMITED - Share buy-back of shares from the Share Trust

Share buy-back of shares from the Share Trust

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BRIKOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/013247/06)
(Share Code: BIK ISIN Code: ZAE000101945)
("Brikor" or "the Company")

Share buy-back of shares from the Share Trust

Shareholders are advised that the board of Directors of the Company entered into a share
buy-back agreement ("Share Buy-Back Agreement") between the Company and the trustees
for the time being of the Brikor Share Incentive Scheme ("the Trust") on xx February 2025, in
terms of which Share Buy-Back Agreement, inter alia, the Company will buy-back 15,900,000
ordinary shares in the issued share capital of the Company ("Repurchase Shares"), at a
purchase consideration of 14 cents per Repurchase Share, being an aggregate amount of
R2,385,000 ("Purchase Price") in respect of all the Repurchase Shares (the "Repurchase"). The
price per Repurchase Share was calculated based on the 30 day volume weighted average
trading price of a Brikor share on the JSE immediately preceding 19 February 2025. The
Purchase Price shall be discharged by the Company deducting and setting-off the Purchase Price
against the amount owing by the Trust to the Company and will have no cashflow implications for
Brikor.

The rationale for the Repurchase is that the Trust has not allocated any of the Repurchase Shares
to Brikor employees and will be wound down after the Repurchase has been completed.

The Repurchase needs to be approved by the shareholders of the Company (the
"Shareholders"), holding not less than 75% of all votes exercisable by Shareholders in general
meeting in accordance with the provisions of section 48(8) of the Companies Act, No 71 of 2008
as amended. The requisite written resolutions to be adopted by the Shareholders to approve the
Repurchase will be distributed to Shareholders for adoption in due course.




28 February 2025
Nigel

Designated Adviser
Exchange Sponsors

Date: 28-02-2025 01:19:00
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