LABAT AFRICA LIMITED - Additional Listing of Shares: Acquisition of 75.55% of Classic

Additional Listing of Shares: Acquisition of 75.55% of Classic

LABAT AFRICA LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1986/001616/06)

("Labat Africa" or "the Company")

ISIN Code: ZAE000018354 Share Code: LAB

FSE Code: LEI 9845000R73DF5EE41J88



ADDITIONAL LISTING OF SHARES: ACQUISITION OF 75.55% OF CLASSIC INTERNATIONAL TRADING
PROPRIETARY LIMITED ("CLASSIC")



Shareholder are referred to the SENS announcement issued on 20 November 2024 regarding the
above mentioned subject, which indicated that the proposed transaction was subject to certain
suspensive conditions.

Shareholders are now informed that the suspensive conditions contained in the Asset for Shares
Agreement has been fulfilled and consequently the effective date of acquisition was 31 December
2024.

These suspensive conditions related to the submission of the audited financial statements for the
years ended 31 May 2023 and 2024, as well as the lifting of the suspension of the trading of Labat
shares by the JSE.

Shareholders are further informed that 116 million shares of no par value, have been issued and
listed on 21 January 2025 at an issue price of R0.07 in relation to the Asset for Shares Agreement.
Following this issue, the Issued share capital of Labat Africa is 785 025 769.

Salient terms and conditions of the Asset for Share Agreement transaction are as follows:

1. Labat Africa will acquire 75.55% interest in Classic from the current Shareholder and beneficial
owner of Classic, Mr Abdul Kader Moosa Mohamed. The other beneficial owner of Classic is Mr Irfan
Omar Noormahomed.

2. Purchase consideration of R16.275 million

3. Purchase consideration is settled through the issue of 232.5 million ordinary Labat Africa shares,
of which a profit warranty related to 116.5 million of these shares has been provided for the 2025
financial year end. In compliance with paragraph 3.34 of the JSE Listings Requirements these shares
will only be allotted and issued once the profit warranty condition has been achieved.

4. Issue price of R0.07 per share which was the opening trading price in effective date of the
Agreement

5. As part of the acquisition Classic undertakes to underwrite the actual and contingent liabilities of
Labat on effective date


Shareholders are reminded that the acquisition of the Classic shares is a Category 2 transaction for
Labat Africa and Classic is not a related party to Labat Africa as defined in the JSE Listings
Requirements. Accordingly, a fairness opinion and shareholder approval is not required.




JOHANNESBURG
23 January 2025


Sponsor
Vunani Sponsor

Date: 23-01-2025 01:10:00
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