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Delisting of Appraisal Right Shares
Araxi Limited
(Previously Capital Appreciation Limited)
Incorporated in the Republic of South Africa
(Registration number 2014/253277/06)
Share code: AXX ISIN: ZAE000208245
('Araxi" or "the Company" or "the Group")
DELISTING OF APPRAISAL RIGHT SHARES
Araxi shareholders ("Shareholders") are referred to the circular issued to Shareholders on 29 July 2019
("Circular") and the SENS announcements dated 18 June 2019 and 29 July 2019, in relation to the specific
repurchase by Araxi of 245 000 000 Araxi ordinary shares ("Araxi Shares").
As detailed in the Circular, Shareholders were afforded the right, in terms of section 164 of the Companies
Act, 2008 (Act 71 of 2008), as amended ("Act"), to demand that the Company pay them the fair value of
all of such number of Araxi Shares as may form the subject matter of their demand ("Appraisal Rights").
As per the notice of general meeting attached to the Circular, Shareholders wishing to exercise their
Appraisal Rights were required to, inter alia, provide the Company with a written notice objecting to
special resolution number 1 (authority to repurchase Araxi Shares).
Following the exercise of their Appraisal Rights, the Company has repurchased a total of 18 039 829 Araxi
Shares ("Repurchase Shares") from First National Nominees (Pty) Ltd at a price of R1.19 per Repurchased
Share, which is 1.38% of Araxi's total issued share capital.
As per paragraph 7.93 of the JSE Listings Requirements ("Listings Requirements"), securities repurchased
in terms of section 164 of the Act will not be regarded as a repurchase in terms of the Listings
Requirements.
The Company has applied to the JSE for the removal of the Repurchase Shares in terms of Schedule 2 Form
A6 of the Listings Requirements. The Repurchase Shares will be delisted with effect from the
commencement of trading on or about Monday, 30 March 2026 and will thereafter be cancelled.
The board of directors of Araxi accepts responsibility for the information contained in this announcement
insofar as it relates to Araxi. To the best of its knowledge and belief, the information contained in this
announcement is true and the announcement does not omit anything likely to affect the importance of
the information.
Sandton
26 March 2026
Sponsor
Investec Bank Limited
Date: 26-03-2026 11:05:00
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