HOSKEN PASSENGER LOGISTICS AND RAIL LIMITED - Further Cautionary Announcement

Further Cautionary Announcement

HOSKEN PASSENGER LOGISTICS AND RAIL LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2015/250356/06
Share code: HPR
ISIN: ZAE000255907
(“Company”)

FURTHER CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the cautionary announcement released on SENS on
19 December 2018, as renewed on 4 February 2019, advising that the Company’s
wholly-owned subsidiary, Golden Arrow Bus Services Proprietary Limited (“GABS”), has
entered into negotiations to purchase the remaining shares not already held by it, in Sibanye
Bus Services Proprietary Limited (”Sibanye”) and Table Bay Area Rapid Transport Proprietary
Limited (“TBRT”).

Shareholders are advised that GABS has concluded agreements with Abahlobo Transport
Service Proprietary Limited (“Abahlobo”) to purchase the shares held by Abahlobo in Sibanye
and TBRT, constituting approximately 33.3% of Sibanye’s issued share capital and
approximately 24.97% of TBRT’s issued share capital (“Abahlobo Transactions”). However,
negotiations in respect of the purchase by GABS of the remaining shares in Sibanye and
TBRT, respectively, held by another party (“Remaining Transactions”), are still ongoing.

The combined purchase consideration payable by GABS in respect of the Abahlobo
Transactions is not categorisable under the JSE Listings Requirements, but should the
Remaining Transactions proceed, and the purchase consideration payable in terms thereof
be aggregated with the purchase consideration payable in terms of the Abohlobo
Transactions, they would likely result in these acquisitions, collectively, qualifying as a
category 2 transaction under the JSE Listings Requirements, requiring further details to be
announced.

Shareholders are, accordingly, advised to continue to exercise caution when dealing in the
Company’s securities until a full announcement is made in respect of the above acquisitions.

Cape Town
18 March 2019

   Sponsor and corporate adviser
                                                        Legal adviser
            PSG Capital
                                                          ENSafrica

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