LABAT AFRICA LIMITED - Further Announcement Relating to the Potential Acquisition of Force Fuel Proprietary Limited

Further Announcement Relating to the Potential Acquisition of Force Fuel Proprietary Limited

LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
(“Labat” or “the Company”)
ISIN Code: ZAE 000018354 Share code: LAB


FURTHER ANNOUNCEMENT RELATING TO THE POTENTIAL ACQUISITION OF FORCE FUEL PROPRIETARY LIMITED
(“FORCE FUEL”) AND FORCE FUEL PROPERTIES PROPRIETARY LIMITED (“FFP”) AND RENEWAL OF CAUTIONARY
ANNOUNCEMENT


Shareholders are referred to the announcement published on 1 June 2018 and are advised of the following
additional information in relation to the previously published financial information:

1.   Financial Information
     The normalised Earnings Before Interest, Taxation, depreciation and Amortisation (“EBITDA”) of Force
     Fuel of R18 121 866 (previously published) was calculated after adding back transaction costs of
     approximately R11 million, with an actual EBITDA of approximately R7.1 million.

     The financial information relating to Ambot Fuel Agencies CC, which CC previously owned the
     business and properties of Force Fuel and FFP, was extracted from Annual Financial Statements for
     the year ended 31 May 2016, which were prepared in accordance International Financial Reporting
     Standards for Small and Medium Enterprises,

2.   Renewal of cautionary announcement
     Due to the suspensive conditions, which include the execution of formal legal agreements and a
     due diligence, shareholders are advised to continue to exercise caution until a further
     announcement is made. In addition, Labat remains in discussions relating to other acquisitions,
     which, if successfully concluded, may have a material effect on the price of the Company’s
     securities.

     Accordingly, shareholders are reminded to exercise caution when dealing in the securities of the
     Company until further announcements are made.


7 June 2018
Johannesburg

Sponsor
Arbor Capital Sponsors Proprietary Limited

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