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AGM reminder, notice of expected NAV and update on strategic review
EPE CAPITAL PARTNERS LTD
(Incorporated in the Republic of Mauritius)
(Registration number: C138883 C1/GBL)
ISIN: MU0522S00005
Share Code: EPE
("the Company" and "Ethos Capital")
AGM REMINDER, NOTICE OF EXPECTED NAV AND UPDATE ON STRATEGIC REVIEW
ANNUAL GENERAL MEETING
Shareholders are reminded that the Annual General Meeting ("AGM") of Ethos Capital will be held on
Thursday, 16 November 2023 at 14h00 via a remote interactive electronic platform, to transact the
business as stated in the Notice of AGM that was distributed on 19 October 2023. Further details on how to
participate and vote at the AGM are provided in the Notice of AGM that is available on the Company's
website at https://ethoscapital.mu/investors/governance/
Shareholders are encouraged to submit their votes by proxy in advance of the AGM, by completing the
Form of Proxy (attached to the Notice of AGM) and lodging this form with Computershare by no later than
14h00 on Tuesday, 14 November 2023 by:
- delivery to Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann
Avenue, Rosebank; or
- email to proxy@computershare.co.za
Any forms of proxy not submitted by this time can still be lodged by email to proxy@computershare.co.za
prior to the commencement of the AGM.
Shareholders are furthermore encouraged to submit via email any questions in advance of the AGM to the
Company Secretary at ethoscapital@ocorian.com.
NOTICE OF EXPECTED NET ASSET VALUE
The Brait PLC ("Brait") results for the six months ended 30 September 2023 are expected to be released by
Brait on SENS on Wednesday, 15 November 2023, followed at 13h00 by a webcast presentation covering its
results and outlook. Those shareholders interested in attending the presentation can register via
invest@brait.com.
Following the release of these Brait results, Ethos Capital will announce an update on its Net Asset Value
("NAV") and NAV per share ("NAVPS") for the period ended 30 September 2023 via SENS.
UPDATE ON BOARD'S STRATEGIC REVIEW
As noted in the Chairperson's Report of the Ethos Capital Integrated Annual Report at 30 June 2023 and at
the Ethos Capital Results presentation on 27 September 2023, the Ethos Capital Board of Directors
("Board") has been conducting a review of the Ethos Capital strategy. Pursuant to this review, the Board
had confidential engagements with Ethos Capital's largest shareholders to obtain their views on the future
strategic options considered by the Board for Ethos Capital, in order to ensure that there is alignment
between the Board and shareholders on the ultimate strategic direction for Ethos Capital. The Board
welcomes the feedback received from shareholders during this engagement. After extensive deliberations
and having regard to the feedback received from shareholders, the Board believes that Ethos Capital should
focus on realising value from its existing 22 Portfolio Companies, with no new fund commitments or
investments to be made.
The strategy aims to maximise value for all shareholders from realisations and consequently be able to
return capital to shareholders through a combination of dividend distributions and potential buybacks of
the Company's shares, where they trade at a significant discount to the NAVPS, with both subject to debt
levels and the final determination by the Board at the relevant time.
Disclaimer
Any financial information on which this announcement is based, has not been audited, reviewed and reported on by
the Company's external auditors.
In addition, this announcement contains statements about Ethos Capital that are, or may be, forward-looking
statements. All statements (other than statements of historical fact) are, or may be deemed to be, forward-looking
statements, including, without limitation, those concerning: strategy; the economic outlook for the industries in which
Ethos Capital operates or invests as well as markets generally; production; cash costs and other operating results;
growth prospects and outlook for operations and/or investments, individually or in the aggregate; and liquidity, capital
resources and expenditure. These forward-looking statements are not based on historical facts, but rather reflect
current expectations concerning future results and events and generally may be identified by the use of forward-
looking words or phrases such as "believe", "aim", "expect", "anticipate", "intend", "foresee", "forecast", "likely",
"should", "planned", "may", "estimated", "potential" or similar words and phrases. Examples of forward-looking
statements include statements regarding a future financial position or future profits, cash flows, corporate strategy,
anticipated levels of growth, estimates of capital expenditures, acquisition and investment strategy, expansion
prospects or future capital expenditure levels and other economic factors, such as, among others, growth, and interest
rates.
By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to
events and depend on circumstances that may or may not occur in the future. Ethos Capital cautions that forward-
looking statements are not guarantees of future performance. Actual results, financial and operating conditions, returns
and the developments within the industries and markets in which Ethos Capital operates and/or invests may differ
materially from those made in, or suggested by, the forward-looking statements contained in this announcement. All
these forward-looking statements are based on estimates, predictions, and assumptions, as regards Ethos Capital, all of
which estimates, predictions and assumptions, although Ethos Capital believes them to be reasonable, are inherently
uncertain and may not eventuate or eventuate in the manner Ethos Capital expects. Factors which may cause the actual
results, performance, or achievements to be materially different from any future results, performance or achievements
expressed or implied in those statements or assumptions include matters not yet known to Ethos Capital or not currently
considered material by Ethos Capital.
Shareholders should keep in mind that any forward-looking statement made in this announcement or elsewhere is
applicable only at the date on which such forward-looking statement is made. New factors that could cause the Ethos
Capital business not to develop as expected may emerge from time to time and it is not possible to predict all of them.
Further, the extent to which any factor or combination of factors may cause actual results, performance, or
achievements to differ materially from those contained in any forward-looking statement is not known. Ethos Capital
has no duty to, and do not intend to, update, or revise the forward-looking statements contained in this
announcement or any other information herein, except as may be required by law.
Ebene, Mauritius (with simultaneous circulation in Johannesburg)
13 November 2023
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 13-11-2023 08:00:00
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