GRINDROD BANK LIMITED - Finalisation of disposal of the share capital of Grindrod Financial Holdings Ltd and Pref shares of Grindrod Bank

Finalisation of disposal of the share capital of Grindrod Financial Holdings Ltd and Pref shares of Grindrod Bank

GRINDROD BANK LIMITED
(Registration no 1994/007994/06)
Incorporated in the Republic of South
Africa JSE alpha code: GNDI
(“Grindrod Bank)

FINALISATION OF DISPOSAL OF 100% OF THE ISSUED ORDINARY SHARE CAPITAL OF GRINDROD
FINANCIAL HOLDINGS LIMITED (“GFH”) AND 100% OF THE PREFERENCE SHARES ISSUED BY
GRINDROD BANK (“DISPOSAL”)


Finalisation of the Disposal

Grindrod Bank bondholders are referred to the announcement released on the Stock Exchange News
Service (“SENS”) on 26 May 2022 in which they were advised that Grindrod Limited (“Grindrod”) had
reached agreement with African Bank Limited in terms of which:
• Grindrod will dispose of 100% of the issued ordinary share capital of GFH; and
• Grindrod will dispose of 100% of the preference shares issued by Grindrod Bank.

Bondholders are advised that all conditions precedent to the Disposal have been fulfilled on 7 October
2022 and that the effective date of the Disposal will be 1 November 2022, being the first business day
of the month following the month in which the last of the conditions precedent to the Disposal are
fulfilled or waived, to the extent permitted.

For further information concerning the Disposal, bondholders are referred to the announcement
published on SENS today by Grindrod.


10 October 2022

Debt Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 10-10-2022 05:35:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.