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Acquisition Of 20% Of Mozfinders Lda
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
ACQUISITION OF 20% OF MOZFINDERS LDA
Shareholders are advised that Labat Africa Limited ("Labat") has entered into a
Memorandum of Agreement ("MOA") to acquire a 20% shareholding in Mozfinders LDA
("Mozfinders") ("the Transaction") from the current shareholder of Mozfinders
Background of Mozfinders
Mozfinders LDA is a Mozambique-based logistics, procurement, engineering support and
industrial solutions company operating across various sectors including mining, energy,
infrastructure, industrial supply and cross-border trade facilitation. The current shareholding
of Mozfinders is 100% owned by Mr Abdul Osman who is an un-related party.
Mozfinders provides integrated sourcing, procurement and operational support services to
both public and private sector clients throughout Mozambique and the broader Southern
African region. The company specialises in supply chain management, industrial
equipment procurement, engineering support services, import and export facilitation and
project-based operational solutions for infrastructure and resource-focused industries.
The acquisition provides Labat with strategic exposure to Mozambique's growing
industrial, infrastructure and cross-border trade sectors while complementing the Group's
broader African expansion strategy.
Based on the latest available financial statements for the period, Mozfinders reported total
profit after taxation of approximately R100 million. Revenue for the period amounted to
approximately R213.5 million. Mozfinders has a net asset value (NAV) of R80 million.
Rationale for the Acquisition
The acquisition of the 20% interest in Mozfinders forms part of Labat Africa's strategy to
expand its presence into high-growth African markets and diversify its operational
exposure across infrastructure support, logistics, procurement and industrial services
sectors.
The Board believes that the Transaction provides Labat with access to strategic
procurement, logistics and industrial service opportunities within Mozambique and
surrounding SADC territories. The investment is expected to create opportunities for
collaboration across Labat's broader portfolio while strengthening the Group's regional
commercial footprint.
Mozfinders' established operational presence and regional relationships are expected to
support future expansion opportunities and provide Labat with increased participation in
infrastructure development, industrial supply chains and resource-sector related activities
within the region.
The Board is of the opinion that the Transaction will enhance shareholder value through
geographic diversification, expanded market access and participation in growing
regional industrial sectors.
Salient Terms of the Transaction
In terms of the MOA:
• Labat will acquire 20% of the issued share capital of Mozfinders.
• The total purchase consideration payable by Labat is R24 million.
• The consideration will be settled through a combination of the issue of 200 000 000
million Labat ordinary shares at an issue price of 0.05c and R14 million cash
• Following implementation of the Transaction, Mozfinders will become an associate
investment of Labat Africa.
Conditions Precedent
• JSE approval (to the extent required)
• Any other regulatory requirement (to the extent that it is required).
• The fulfilment of customary conditions precedent as set out in the MOA, which
includes the provision of management financial information such as management
accounts of Mozfinders for the period ended 30 April 2026 and a profit forecast for
Mozfinders for the periods ending 1 February 2026 to 1 February 2029;
Categorisation of the Transaction
Based on Labat Africa's current market capitalisation, the Acquisition constitutes a
Category 2 transaction in terms of the JSE Listings Requirements and accordingly does not
require shareholder approval.
Effective Date
The effective date of the Transaction will be the first business day following fulfilment or
waiver of the conditions precedent.
Board Commentary
The Board believes that the acquisition of a strategic interest in Mozfinders represents an
important step in Labat's regional expansion strategy and strengthens the Group's
exposure to African industrial growth opportunities.
The Transaction provides Labat with access to established procurement, logistics and
operational capabilities within Mozambique and positions the Group to participate in
future infrastructure, industrial and resource-related opportunities throughout the region.
The Board believes that the Transaction aligns with Labat's long-term strategy of building a
diversified African-focused investment and operating platform.
Responsibility Statement
The Board of Labat Africa takes full responsibility for the information contained in this
announcement and confirms that, to the best of its knowledge and belief, the information
is true and that this announcement does not omit anything likely to affect the importance
of such information.
Further announcements will be made in due course, if required.
By order of the Board
Labat Africa Limited
JSE Sponsor
Vunani Sponsors
JOHANNESBURG
26 May 2026
JSE Sponsor
Vunani Sponsors
Date: 26-05-2026 05:19:00
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