Labat Africa: Finalisation Announcement - Completion of Classic Transaction and Profit Warranty Confirmation and Additional listing of Shares - InsidEntity
Shareholders are advised that the Company has completed the outstanding components of the Classic Transaction previously announced on SENS on 20 November 2024, and implemented in accordance with the JSE Listings Requirements.
The Company further confirms that the profit warranty conditions applicable to the transaction have been met. As a result, all remaining obligations arising from the transaction have now been fulfilled.
Shareholders are also referred to the announcement published on SENS on 23 January 2025, which should be read in conjunction with this announcement and are further informed that 116.5 million shares of no par value have been issued and listed on 20 November 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 1,248,875,595.
The Company has taken the necessary steps to finalise the regulatory processes related to the issuing and listing of the remaining shares due under the Classic Transaction.
Shareholders are reminded that the completion of the Classic Transaction forms part of the Company’s broader strategic initiatives aimed at strengthening the balance sheet and supporting continued operational momentum.