AFRIMAT LIMITED - Notification of an intra-group repurchase of shares

Notification of an intra-group repurchase of shares

 AFRIMAT LIMITED
 Incorporated in the Republic of South Africa
 (Registration number: 2006/022534/06)
 Share code: AFT
 ISIN: ZAE000086302
 (“Afrimat” or “the Company”)


NOTIFICATION OF AN INTRA-GROUP REPURCHASE OF SHARES


In terms of paragraph 3.95 of the JSE Listings Requirements, shareholders are advised that
the Company has today concluded an intra-group repurchase with Afrimat Management
Services Proprietary Limited, a wholly owned subsidiary of the Company (“Subco”), in terms
of which the Company acquired 2 828 790 ordinary shares (“Repurchased Shares”) from the
Subco at a price of R53.03 per share (“Intra-group Repurchase”), which Repurchased
Shares have been delisted from the JSE.

The Repurchased Shares will revert to authorised but unissued share capital of the Company
on settlement in accordance with section 35(5) of the Companies Act 71 of 2008.

The Repurchased Shares were acquired by Subco over an extended period of time in anticipation of 
the issuance of Afrimat ordinary shares for partial settlement of the Glenover acquisition, which 
is expected to be issued in July 2023, consequently ensuring that the total number of Afrimat 
ordinary shares in issue post the Glenover acquisition remains unchanged.

Following the Intra-group Repurchase, the balance of ordinary shares held in treasury by the
Company is 4 606 358.


Cape Town
29 June 2023


Sponsor
Valeo Capital (Pty) Ltd

Date: 29-06-2023 05:25:00
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