SPANJAARD LIMITED - Cautionary Announcement

Cautionary Announcement

SPANJAARD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1960/004393/06)
Share code: SPA ISIN: ZAE000006938
(“the Company”)

CAUTIONARY ANNOUNCEMENT

Shareholders are advised that the Company has received a non-binding expression
of interest from Spanjaard Group Limited (“Spanjaard Group”) to acquire 100% of
the remaining issued ordinary share capital of the Company, which it does not
already own.

The Company entered into discussions with Spanjaard Group, which currently owns
71.75% of the issued share capital of the Company, but at present, the expression of
interest does not constitute a firm intention to make an offer in terms of the Companies
Regulations, 2011.

Accordingly, shareholders are urged to exercise caution when dealing in their shares
until a further announcement is made.


By Order of the Board
Johannesburg
16 April 2021

Sponsor
AcaciaCap Advisors Proprietary Limited

Date: 16-04-2021 01:22:00
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