GRAND PARADE INVESTMENTS LIMITED - Finalisation Announcement in respect of the Mandatory Offer

Finalisation Announcement in respect of the Mandatory Offer

GRAND PARADE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/003548/06)
JSE share code: GPL
ISIN: ZAE000119814
("GPL" or the "Company")

and

GMB LIQUIDITY CORPORATION
PROPRIETARY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2022/587629/07)
("GMB" or the "Offeror")

FINALISATION ANNOUNCEMENT IN RESPECT OF THE MANDATORY OFFER

1.    INTRODUCTION

1.1      GPL Shareholders are referred to the Firm Intention Announcement released on SENS on
         Wednesday, 9 November 2022, by the Offeror and GPL setting out the terms of the Offeror's
         firm intention to propose the Mandatory Offer to GPL Shareholders and to the circular
         detailing the Mandatory Offer (“Circular”) which was distributed to GPL Shareholders on
         Thursday, 15 December 2022.

1.2      All capitalised terms used but not defined in this announcement shall bear the meanings
         ascribed to them in the Circular.

2.    FULFILMENT OF THE MANDATORY OFFER CONDITIONS

2.1      Shareholders are hereby advised that all the Mandatory Offer Conditions Precedent to the
         Mandatory Offer have now been fulfilled, and the Mandatory Offer is therefore unconditional.

2.2      Accordingly, the salient dates for the Mandatory Offer, as set out in the Circular to
         Shareholders have been amended. The relevant dates are set out below:

         Finalisation Date                                                    Thursday, 23 March

         Last day to trade to take up the Offer                                   Monday, 3 April

         Shares trade "ex" the Offer                                             Tuesday, 4 April

         Record date to determine which shareholders may accept                 Thursday, 6 April
         the Offer

         Closing Date of the Offer, at 12:00 on                                 Thursday, 6 April

         Results of Offer to be announced on SENS                               Tuesday, 11 April
         
         Offer Consideration Settlement Date                                    Tuesday, 11 April

Notes:

1. The abovementioned dates and times are South African dates and times. All references to days
   are to Business Days.
2. Offerees should note that acceptance of the offer will be irrevocable.
3. The Offer Consideration will be settled by the Transfer Secretaries on the later date of either six
   Business Days after the Finalisation Date or every Monday on the applicable Offer Consideration
   Settlement Date which shall be within six Business Days of acceptance. If the Offer Consideration
   Settlement Date is a public holiday, then settlement of the Offer Consideration will be made on
   the first Business Day following the public holiday. The final settlement of the Offer Consideration,
   will be made by no later than close of business on 11 April 2023.
4. Share certificates may not be dematerialised or rematerialized from 4 April 2023 to 6 April 2023,
   both dates inclusive.

3.    INDEPENDENT BOARD RESPONSIBILITY STATEMENT

      The Independent Board accepts responsibility for the information contained in this
      announcement insofar as it relates to GPL and the Mandatory Offer. To the best of their
      collective knowledge and belief, the information contained in this announcement is true and this
      announcement does not omit anything likely to affect the importance of the information.

4.    OFFEROR RESPONSIBILITY STATEMENT

      The Offeror accepts responsibility for the information contained in this announcement insofar
      as it relates to detail around the Offeror and the Mandatory Offer. To the best of its knowledge
      and belief, the information contained in this announcement is true and this announcement does
      not omit anything likely to affect the importance of the information.

Cape Town
23 March 2023

FINANCIAL ADVISER TO GPL
Rand Merchant Bank, a division of FirstRand Bank Limited

SPONSOR TO GPL
PSG Capital Proprietary Limited

LEGAL ADVISER TO GPL
Clyde & Co LLP

LEGAL ADVISER TO GMB
Solaris Law Proprietary Limited

Date: 23-03-2023 11:00:00
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