HOSKEN PASSENGER LOGISTICS AND RAIL LIMITED - Potential acquisition and cautionary announcement

Potential acquisition and 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
(“HPLR” or the “Company”)


POTENTIAL ACQUISITION AND CAUTIONARY ANNOUNCEMENT


Shareholders are advised that the Company has entered into negotiations to purchase the
remaining shareholdings not already held by its wholly-owned subsidiary, Golden Arrow Bus
Services (Pty) Ltd (“GABS”), in Sibanye Bus Services Proprietary Limited (“Sibanye”) and
Table Bay Area Rapid Transport Proprietary Limited (“TBRT”), with a view to expanding
HPLR’s interest in its bus and transport operations in the Western Cape.

Pursuant to the acquisition by GABS of the shares in TBRT and Sibanye held by Abahlobo
Transport Service Proprietary Limited (“Abahlobo”), the terms of which were notified to
shareholders in the Company’s SENS announcement published on 29 March 2019, GABS
holds 66.67% of the issued shares of Sibanye and 75% of the issued shares in TBRT.

GABS has approached the remaining shareholder of Sibanye and TBRT, being Siyakhula Bus
Services Proprietary Limited, in this regard. While the purchase consideration to acquire the
shareholdings in Sibanye and TBRT are still to be finally agreed, HPLR anticipates that, should
the acquisitions proceed and such purchase amounts be aggregated, they would result in
these acquisitions, between them, qualifying as a category 2 transaction by the Company
under the JSE Listings Requirements.

While the negotiations of the above transactions are still ongoing and the acquisition of some
or both of these shareholdings may not proceed, the Company nevertheless considers it
prudent to inform shareholders of the potential transaction.

Shareholders are advised that the above negotiations, if successfully concluded, may have a
material effect on the price of the Company’s securities. Accordingly, shareholders are advised
to exercise caution when dealing in the Company’s securities until a full announcement is
made.

Cape Town
7 June 2019

Sponsor
Investec Bank Limited

Legal adviser
Edward Nathan Sonnenbergs Inc

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