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Further shareholder update and cautionary announcement
BRAIT SE
(Registered in Malta as a European Company)
(Registration No. SE1)
Share code: BAT ISIN: LU0011857645
Bond code: WKN: A1Z6XC ISIN: XS1292954812
LEI: 549300VB8GBX4UO7WG59
("Brait" or the "Group")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT
CONTAINS INSIDE INFORMATION.
FURTHER SHAREHOLDER UPDATE AND CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the Shareholder Update announcement released by Brait on SENS
and published on the website of the Luxembourg Stock Exchange on 23 September 2019. The
board of Brait (the “Board”) wishes to confirm that it, together with Brait South Africa Proprietary
Limited and Brait Advisory Services UK Limited (Brait’s Corporate Advisors), has made significant
progress to materially reduce the current leverage and extend the remaining debt maturities on
Brait’s balance sheet. In addition, the Board is in advanced negotiations to significantly reduce the
net operating costs of Brait and has resolved to adopt a new strategy that will focus on maximising
value through the realisation of assets in the portfolio over the next five years and returning capital
to shareholders.
A detailed announcement relating to the above will be released by 27 November 2019 with Brait’s
interim results for the six months ended 30 September 2019. Shareholders are advised that the
detailed announcement may have a material effect on the price of Brait’s securities and that
shareholders should exercise caution when dealing in their Brait securities until such detailed
announcement is made.
The Board is being advised by Rand Merchant Bank, a division of FirstRand Bank Limited.
The information contained within this announcement is inside information as stipulated under the
Market Abuse Regulation (EU) No. 596/2014 and the South African Financial Markets Act, 2012.
Upon the publication of this announcement this inside information is now considered to be in the
public domain. The person responsible for this announcement on behalf of Brait is PJ Moleketi, Non-
Executive Chairman of the Board.
San Gwann, Malta
21 November 2019
Brait's primary listing is on the Euro MTF market of the Luxembourg Stock Exchange and its
secondary listing is on the exchange operated by the JSE Limited.
Sponsor:
Rand Merchant Bank, a division of FirstRand Bank Limited
Date: 21/11/2019 09:40:00
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