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 22 606 003 new shares under its General Authority to
issue shares for cash, which was approved by shareholders on 10 May 2022. The Company
has issued 39 281 862 new shares from the date of the approval of the General Authority
representing a cumulative of 23.13% of the issued share capital of the Company from the
date of approval of the general authority.

The new issue of 22 606 003 shares represents 5.76% thereof. The shares were issued at prices
ranging from 16.83 cents to 19.14 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.

As at 29 July 2022, the 10% discount to the 30-day VWAP was 16.77 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 601 127 859 ordinary shares.

Johannesburg
31 October 2022

Sponsor
AcaciaCap Advisors Proprietary Limited

Date: 31-10-2022 04:14:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.