OUTsurance GROUP LIMITED - Completion of the acquisition of an additional equity stake in Youi Holdings

Completion of the acquisition of an additional equity stake in Youi Holdings

OUTSURANCE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2010/005770/06)
ISIN: ZAE000314084
Share code: OUT
(OGL)

COMPLETION OF THE ACQUISITION OF AN ADDITIONAL EQUITY STAKE IN YOUI HOLDINGS

Shareholders are referred to the announcement released on the Stock Exchange
News Service on 15 September 2023, where OGL advised that OUTsurance Holdings
Limited (OHL), an 89.8%-owned subsidiary of OGL, had entered into an
agreement with Mr Roos, a non-executive director of OHL and its listed parent
company, OGL, to acquire the remaining 50% of his shareholding in Youi
Holdings Proprietary Limited (Youi) for A$42.5 million (the transaction). At
that time, the transaction was subject to the customary terms and conditions
for transactions of this nature, including JSE approval of the fairness
opinion provided by Deloitte & Touche Financial Advisory and exchange control
approval by the Financial Surveillance Department of the South African
Reserve Bank.

Shareholders are advised that all the terms and conditions of the transaction
have been fulfilled and the settlement for the Youi shares acquired from Mr
Roos was effected today, 30 October 2023, increasing OHL's equity stake (via
OUTsurance International Holdings Proprietary Limited) in Youi to 94.64%.

The fairness opinion is available for inspection at the registered office of
OGL at 1241 Embankment Road, Zwartkop Extension 7, Centurion, Gauteng for a
period of 28 days from the date of this announcement. It will also be made
available during this period on request by email to
investorrelations@out.co.za.

Centurion
30 October 2023

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 30-10-2023 01:07:00
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