SABLE EXPLORATION AND MINING LIMITED - Results of Rights Offer

Results of Rights Offer

Sable Exploration and Mining Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2001/006539/06)
(Share Code: SXM ISIN Code: ZAE000303319)
("SEAM" or "the company")


Results of Rights Offer

Introduction

Shareholders are referred to the announcements released on SENS on 23 February 2023, 1
September 2023, 31 October 2023, 4 November 2023 and 8 November 2023 in which SEAM
announced that 52 213 608 ordinary no par value shares in the authorised but unissued share
capital of SEAM will be issued in terms of a rights offer at a subscription price of 100 cents per
share to raise R52 213 608.00.


Results of the Rights Offer
The Rights Offer closed at 12:00 on Friday 17 November 2023. The table below sets out the
results of the Rights Offer:

                                         Number of Rights Offer            % of Rights Offer
                                         shares                            Shares
 Rights Offer Shares available for       52 213 608                        100%
 subscription
 Shares subscribed by minority           722 166                           1.38%
 shareholders
 Shares subscribed by Allan              305 484                           0.59%
 Hochreiter Investments (Pty) Ltd
 Shares subscribed by James Allan        3 669 204                         7.03%
 Shares subscribed for and               46 490 213                        89.04%
 underwritten by PBNJ Trading and
 Consulting (Pty) Ltd
 Shares underwritten by Sable            1 026 541                         1.96%
 Metals and Minerals (Pty) Ltd
 Total Rights Offer Shares               52 213 608                        100%
 subscribed for


Rights Offer Shares issued to directors

Shareholders are advised that the following Rights Offer Shares were issued to directors of
SEAM:

Name of director:                      James Allan
Date of transaction:                   17 November 2023
Nature of transaction:                 Subscription for Rights Offer Shares
Price:                                 100 cps
Number of shares:                      3 669 204
Total amount:                          R3 669 204.00
Class of shares:                       Ordinary Shares
Nature of interest:                    Direct Beneficial
Clearance obtained:                    Yes
Name of director:        James Allan
Company:                 Sable Metals and Minerals (Pty) Ltd
Date of transaction:     17 November 2023
Nature of transaction:   Subscription for Rights Offer Shares
Price:                   100 cps
Number of shares:        1 026 541
Total amount:            R1 026 541.00
Class of shares:         Ordinary Shares
Nature of interest:      Indirect Beneficial
Clearance obtained:      Yes

Name of director:        James Allan
Company:                 Allan Hochreiter Investments (Pty) Ltd
Date of transaction:     17 November 2023
Nature of transaction:   Subscription for Rights Offer Shares
Price:                   100 cps
Number of shares:        305 484
Total amount:            R305 484.00
Class of shares:         Ordinary Shares
Nature of interest:      Indirect Beneficial
Clearance obtained:      Yes

Name of director:        Ulrich Bester
Company:                 PBNJ Trading and Consulting (Pty) Ltd
Date of transaction:     17 November 2023
Nature of transaction:   Subscription for Rights Offer Shares
Price:                   100 cps
Number of shares:        46 490 213
Total amount:            R46 490 213.00
Class of shares:         Ordinary Shares
Nature of interest:      Indirect Beneficial
Clearance obtained:      Yes




Johannesburg
22 November 2023

Sponsor
Exchange Sponsors

Date: 22-11-2023 11:28:00
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