BAUBA RESOURCES LIMITED - Acquisition of Thatswana Co. Update and Withdrawal of Cautionary Announcement

Acquisition of Thatswana Co. Update and Withdrawal of Cautionary Announcement

Bauba Resources Limited
Incorporated in the Republic of South Africa
(Registration number 1986/004649/06)
Share code: BAU ISIN: ZAE000145686
(“Bauba” or "the Company")

ACQUISITION OF THATSWANA CO. UPDATE AND WITHDRAWAL OF CAUTIONARY
ANNOUNCEMENT


1.   INTRODUCTION

     Shareholders are referred to the announcement dated 23 July 2019 (“Announcement”) (and using
     the terms defined therein unless otherwise stated), and the subsequent renewal of cautionary
     announcement dated 4 September 2019, and are hereby provided with an update thereto.

2.   UPDATE TO THE ACQUISITION

     2.1. Due Diligence Investigation

     Shareholders are advised that the Due Diligence Investigation in respect the business and assets
     of Thatswana Co. has been completed and Bauba has confirmed to the Seller that it is satisfied
     with the outcome thereof and wishes to proceed with the Acquisition.

     2.2. Financial Information

     The value of the net assets that are the subject of the Acquisition as at 30 June 2019 was
     (R5 904 026), and the loss attributable to the net assets that are the subject of the Acquisition for
     the year ended 30 June 2019 was R490 460. The aforementioned unaudited financial information
     has been derived from unaudited annual financial statements. Bauba is satisfied with the quality
     of such financial statements.

     The financial statements were prepared in accordance with International Financial Reporting
     Standards for Small and Medium-sized Entities and the Companies Act, 2008 (Act 71 of 2008),
     as amended.

     2.3. Initial Conditions

     All Initial Conditions to the Acquisition have been fulfilled.

3.   WITHDRAWAL OF CAUTIONARY
     Further to the cautionary announcement dated 23 July 2019 and the subsequent renewal of
     cautionary announcement dated 4 September 2019, shareholders are advised that as a result of
     the information contained in this announcement, caution is no longer required to be exercised
     when dealing in the Company’s securities.



Johannesburg
17 October 2019

Sponsor
Merchantec Capital

Date: 17/10/2019 05:08:00
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