LABAT AFRICA LIMITED - Withdrawal of Cautionary Announcement

Withdrawal of Cautionary Announcement

LABAT AFRICA LIMITED
Incorporated in the Republic of South Africa
(Registration number 1986/001616/06)
JSE code: LAB ISIN: ZAE000018354
(“Labat” or “the Company” or “the Group”)

WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the various cautionary announcements published on SENS in relation
to the disposal of Force Fuel (Pty) Limited (“Force Fuel”) and Force Fuel Properties (Pty) Limited
(“FFP”) (both in Business Rescue) and the negotiations with an Eastern Cape based
pharmaceutical business to acquire 100% of its operations, the last of which was dated 16 August
2021.

The Board has decided not to pursue the pharmaceutical side of the cannabis industry at present
due to the complex and developing nature of this industry from a regulatory point of view.
Accordingly, Labat will no longer be pursuing the acquisition of the pharmaceutical business and
will instead focus on the off-take agreement and local retail and research aspects of the cannabis
industry, which also requires substantially less funding.

Shareholders are also advised that the Business Rescue Practitioner is now implementing the
disposal of Force Fuel and FFP, which disposal is not expected to have any financial impact on
Labat.

Accordingly, the cautionary announcement is now withdrawn.


JOHANNESBURG
28 September 2021

Sponsor
AcaciaCap Advisors Proprietary Limited

Date: 28-09-2021 08:00:00
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