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Disclosure of Significant Holding of MultiChoice Ordinary Shares
MULTICHOICE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2018/473845/06)
JSE Share Code: MCG
ISIN: ZAE000265971
("MultiChoice" or "the Company" or "the Group")
DISCLOSURE OF SIGNIFICANT HOLDING OF MULTICHOICE ORDINARY SHARES
In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 ("the Act"), regulation
121(2)(b) of the Companies Regulations, 2011 and paragraph 3.83(b) of the JSE Limited Listings
Requirements, holders of ordinary shares in MultiChoice are advised that the Company has
received formal notification, in terms of section 122(1) of the Act, that Pentwater Capital
Management LP through UBS Group AG (UBS) has acquired an interest in the ordinary shares of
the Company, such that the total interest in the ordinary shares of the Company held by UBS now
amounts to 6.10% of the Company's total ordinary shares in issue.
As required in terms of section 122(3)(a) of the Act, MultiChoice has filed the required notice with
the Takeover Regulation Panel. The board of directors of MultiChoice accepts responsibility for
the information contained in this announcement as it relates to the Company and confirms that,
to the best of its knowledge and belief, such information relating to the Company is true and that
this announcement does not omit anything likely to affect the importance of such information.
Randburg
3 September 2025
Sponsor:
Merchantec Capital
Important notice
Shareholders should take note that, pursuant to a provision of the MultiChoice memorandum of
incorporation, MultiChoice is permitted to reduce the voting rights of shares in MultiChoice (including
MultiChoice shares deposited in terms of the American Depositary Share ("ADS") facility) so that the
aggregate voting power of MultiChoice shares that are presumptively owned or held by foreigners to South
Africa (as envisaged in the MultiChoice memorandum of incorporation) will not exceed 20% of the total
voting power in MultiChoice. This is to ensure compliance with certain statutory requirements applicable
to South Africa. For this purpose, MultiChoice will presume in particular that:
• all MultiChoice shares deposited in terms of the MultiChoice ADS facility are owned or held by
foreigners to South Africa, regardless of the actual nationality of the MultiChoice ADS holder; and
• all shareholders with an address outside of South Africa on the register of MultiChoice will be
deemed to be foreigners to South Africa, irrespective of their actual nationality or domicilium,
unless such shareholder can provide proof, to the satisfaction of the MultiChoice board, that it
should not be deemed to be a foreigner to South Africa, as envisaged in article 40.1.3 of the
MultiChoice memorandum of incorporation.
Shareholders are referred to the provisions of the MultiChoice memorandum of incorporation available at
www.multichoice.com for further detail. If shareholders are in any doubt as to what action to take, they
should seek advice from their broker, attorney or other professional adviser.
Shareholders are further referred to the ruling issued by the Takeover Regulation Panel on 27 February 2024,
which ruling deals with the MultiChoice memorandum of incorporation. Shareholders can access the ruling on
the Company's website at https://www.investors.multichoice.com/regulatory.php.
Date: 03-09-2025 09:02:00
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