LABAT AFRICA LIMITED - General Issue of Shares for Cash

General Issue of Shares for Cash

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”)
LEI 9845000R73DF5EE41J88


GENERAL ISSUE OF SHARES FOR CASH


In terms of paragraph 11.22 of the JSE Listings Requirements, shareholders are hereby
advised that Labat Africa has issued 21 282 998 new shares under its General Authority to
issue shares for cash, which was approved by shareholders on 11 May 2021. The Company
has issued 102 689 044 new shares from the date of the approval of the General Authority
representing a cumulative of 26.17% of the issued share capital of the Company from the
date of approval of the general authority.

The new issue of 21 282 998 shares represents 5.42% thereof. The shares were issued over a
period of three months at prices ranging from 23 cents to 29 cents per share, being a
premium to the 30-day volume weighted average price (“VWAP”) on a monthly basis in
accordance with the board approval for the issue of shares for cash.

As at 31 March 2022, the 10% discount to the 30-day VWAP was 22.3 cents per share.

The funds received are being applied to the expansion of the cannabis healthcare business
and working capital.

The shares issued rank pari passu with existing listed Labat Africa ordinary shares. Following
the issue of the shares, the total issued and listed share capital of Labat Africa has increased
to 550 489 994 ordinary shares.

Johannesburg
14 April 2022

Sponsor
AcaciaCap Advisors Proprietary Limited

Date: 14-04-2022 01:20:00
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