Decision not to proceed with the initial public offering
Consol Holdings Limited
(formerly Consol Holdings Proprietary Limited)
(Incorporated in the Republic of South Africa)
JSE Share Code: CNH
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DECISION NOT TO PROCEED WITH THE INITIAL PUBLIC OFFERING
On 16 April 2018, Consol Holdings Limited (“Consol” or the "Company") published a pre-listing
statement in relation to a private placement of ordinary shares in the Company (the “Offer”) and the
listing of its ordinary shares on the Main Board of the JSE Limited.
In light of challenging market conditions, the board of directors and shareholders of Consol have
resolved that the prevailing environment is not conducive to the Offer achieving their valuation
objectives and that it would not be in the best interests of the Company to proceed with the Offer at the
The Company would like to thank potential investors for their engagement and interest throughout the
Consol remains focussed on delivering upon its growth strategies in South Africa and Rest of Africa,
including the commissioning of its new facility in Ethiopia later this year. Consol remains confident in
the outlook for its business and the markets in which it operates.
Mike Arnold Tel: +27 (11) 874 0000
Julian Gwillim Tel: +27 (11) 880 0037
25 April 2018
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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