LUXE HOLDINGS LIMITED - Proposed Disposal and Cautionary Announcement

Proposed Disposal and Cautionary Announcement

LUXE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2000/002239/06)
Share code: LUX      ISIN Code: ZAE000286035
(“Luxe” or “the Group”)


PROPOSED DISPOSAL AND CAUTIONARY ANNOUNCEMENT


Shareholders are advised that Luxe is in advanced stages of negotiations and intends to enter into an agreement
relating to a potential disposal, via its wholly-owned subsidiary, Luxe Jewellery and Watch Division Proprietary
Limited (“Jewellery and Watch Division”), of certain of Group assets, including Arthur Kaplan and World’s Finest
Watches, to Go Dutch Proprietary Limited (“Go Dutch” or “the Purchaser”), for a cash consideration (“Proposed
Disposal”).

Go Dutch is a company of which Althea Gewar, the Group’s current Chief Executive Officer, is the sole director
and shareholder. The Proposed Disposal will therefore be a related party transaction for purpose of the Listings
Requirements JSE Limited.

The Proposed Disposal, which will be subject to certain conditions, will provide the Group with a cash injection to
support the remaining operations and settle existing commitments in the business.

As the Proposed Disposal may have a material effect on the price at which the Luxe’s securities may expect to
trade post the lifting of the suspension, shareholders are advised to exercise caution when dealing in the
Company’s securities until a further announcement is made.


Johannesburg
19 September 2022

Sponsor
Merchantec Capital

Date: 19-09-2022 10:26:00
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