ARDEN CAPITAL LIMITED - Cautionary Announcement

Cautionary Announcement

Arden Capital Limited
(Incorporated in the Republic of Mauritius)
(Registration number: 115883 C1/GBL)
Share Code: ACZ
ISIN: MU0548S00026
(“Arden Capital” or “the Company”)


CAUTIONARY ANNOUNCEMENT


Shareholders are advised that the Board is currently reviewing the Company’s prospects, financial
health, strategy, and ability to continue to viably operate as a listed investment holding company
(“Strategic Review”).

With the Group’s business being predominantly tourism and hospitality focused, the COVID-19
pandemic and world-wide travel restrictions presented the most significant challenge the Group’s
industry has ever faced. The Group recorded its lowest occupancy ever experienced of 23% for 2020,
which was an unprecedented decline of 25 percentage points from 48% recorded in 2019.

The Group has not yet witnessed recovery in traveling and tourism that it had hoped 2021 would yield
to the point that the Group has experienced financial pressure, with head office costs becoming
unsustainable.

These realities have prompted the Board to re-consider certain aspects of the Group’s corporate
structure, which are necessary to deliver positive returns for our shareholders in the medium to long
term.

The Strategic Review may result in the Board proposing solutions to shareholders which, if successfully
concluded, may have a material effect on the price of the Company’s shares. Accordingly, shareholders
are advised to exercise caution when dealing in their Arden Capital shares until a further announcement
is made.

Grand Baie, Mauritius
24 June 2021


Sponsor

Questco Corporate Advisory Proprietary Limited

Date: 24-06-2021 04:30:00
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