MURRAY & ROBERTS HOLDINGS LIMITED - Murray & Roberts Enters Into A Binding Deed Of Company Arrangement Term Sheet With The Administrators Of MRPL

Murray & Roberts Enters Into A Binding Deed Of Company Arrangement Term Sheet With The Administrators Of MRPL

MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ISIN: ZAE000073441
(“Murray & Roberts” or “Group”)

MURRAY & ROBERTS ENTERS INTO A BINDING DEED OF COMPANY ARRANGEMENT
TERM SHEET WITH THE ADMINISTRATORS OF MRPL IN ORDER TO REGAIN
CONTROL OF RUC CEMENTATION MINING

Shareholders are referred to the SENS announcements released on the Stock Exchange
News Service on Monday, 5 December 2022 and Wednesday, 15 February 2023, regarding
the voluntary administration of the Group’s subsidiary company in Australia; Murray & Roberts
Pty Ltd (“MRPL”), the Group’s holding company in Australia, and one of its subsidiary
companies, Clough Limited (“Clough”).

On Friday, 24 March 2023, Murray & Roberts Limited, MRPL and the Administrators entered
into a binding Deed of Company Arrangement (“DOCA”) term sheet. The terms of the DOCA
remain confidential at this stage, and there are conditions precedent to the DOCA; including
credit approval and MRPL creditors approving the DOCA proposal at the second meeting of
creditors. Information about the DOCA proposal will be available in the Administrators’ report
to creditors ahead of the meeting expected mid-May 2023. Should the conditions precedent
to the DOCA be met, it is expected that the DOCA will be implemented by 30 June 2023.

Upon completion of the DOCA, MRPL will come out of administration free from any further
impact of the Clough administration. Control of MRPL, together with RUC Cementation Mining
Contractors Pty Ltd (“RUC”), its wholly owned Australian subsidiary company, will revert to
Murray & Roberts.

The execution of the DOCA term sheet reflects an important first step in the Group’s efforts to
regain control of RUC. Should the DOCA complete, RUC will be reinstated within the Group
and the full scale and capability of the Group’s multinational Mining platform would be re-
established.

Bedfordview

28 March 2023

Sponsor: The Standard Bank of South Africa Limited

Date: 28-03-2023 08:00:00
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