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 16 518 019 new shares under its General Authority to
issue shares for cash, which was approved by shareholders on 10 May 2022. The Company
has issued 61 887 865 new shares from the date of the approval of the General Authority
representing a cumulative of 15.80% of the issued share capital of the Company from the
date of approval of the general authority.

The new issue of 16 518 019 shares represents 3.33% thereof. The shares were issued at prices
ranging from 11 cents to 17 cents per share, being a premium to the 30-day volume
weighted average price in accordance with the board approval for the issue of shares for
cash.

The 10% discount to the 30-day VWAP at 31 August 2022 was 16.05 cents per share and
31 October 2022 was 10.53 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 617 645 878 ordinary shares.

Johannesburg
11 January 2023

Sponsor
AcaciaCap Advisors Proprietary Limited

Date: 11-01-2023 05:25:00
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