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Termination of Proposed Transaction: Peermont Holdings Proprietary Limited (“Peermont”)
SUN INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/007528/06)
ISIN code: ZAE000097580
Share code: SUI
LEI: 378900835F180983C60
("Sun International" or the "Company")
TERMINATION OF PROPOSED TRANSACTION: PEERMONT HOLDINGS PROPRIETARY LIMITED ("PEERMONT")
Shareholders are referred to the announcements released by the Company on SENS on 18 December
2023 and 25 October 2024, as well as to the circular distributed to shareholders dated 5 February 2024,
regarding the proposed acquisition by Sun International (South Africa) Limited, a wholly owned
subsidiary of Sun International, of all of the issued ordinary shares and any claims on loan account
against Peermont ("Proposed Transaction").
Furthermore, shareholders are reminded that the Proposed Transaction received approval from
shareholders in March 2024 and that in October 2024 the Proposed Transaction was referred to the
Competition Tribunal, following the recommendation by the Competition Commission to the Competition
Tribunal that the Proposed Transaction be prohibited in terms of section 14A (1)(b)(iii) of the
Competition Act, No. 89 of 1998, as amended. The Competition Tribunal had the power to approve the
Proposed Transaction despite the recommendation made by the Competition Commission.
The Competition Tribunal has now stipulated dates for its hearing and closing arguments, the latter
thereof being on 2 October 2025 ("Hearing Date"). The approval of the Competition Tribunal is a
condition precedent to the Proposed Transaction, which currently has a longstop date of 15 September
2025 ("Regulatory Longstop Date").
Accordingly, as the Hearing Date is after the Regulatory Longstop Date, the parties have mutually
agreed to the immediate termination of the Proposed Transaction.
Johannesburg
2 July 2025
Investment Bank, Corporate Advisor and Transaction Sponsor to Sun International
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Legal Advisor to Sun International
Cliffe Dekker Hofmeyr Incorporated
Tax Advisor to Sun International
Webber Wentzel
Competition Law Advisor to Sun International
Herbert Smith Freehills Kramer South Africa LLP
Financial Advisor to the Peermont Group
Rand Merchant Bank (a division of FirstRand Bank Limited)
Legal, Tax and Competition Law Advisor to the Peermont Group
Bowman Gilfillan Incorporated
Date: 02-07-2025 08:30:00
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