PEPKOR HOLDINGS LIMITED - Fulfilment Of Conditions For The Acquisition Of Properties

Fulfilment Of Conditions For The Acquisition Of Properties

PEPKOR HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share code: PPH
Debt code: PPHI
ISIN: ZAE000259479
(“Pepkor” or “the Company”)

FULFILMENT OF CONDITIONS FOR THE ACQUISITION OF PROPERTIES

Shareholders and Noteholders of Pepkor are referred to the announcement released by the
Company on SENS on 18 December 2020 (the “Announcement”) in terms of which
Shareholders and Noteholders were advised that the Company and two of its wholly-owned
subsidiaries, Ultimo Properties Proprietary Limited (“Ultimo”) and JD Consumer Electronics
and Appliances Proprietary Limited (“CEA”) had entered into a Framework Agreement with
Steinhoff Africa Holdings Proprietary Limited and the Steinhoff Subsidiaries in terms of which
Ultimo and CEA agreed to acquire a portfolio of properties and take transfer of a lease for an
aggregate consideration of R1 050 000 000 which would be settled by Pepkor issuing, in
aggregate, 70 000 000 new Pepkor shares (“Pepkor Consideration Shares”) to the relevant
Steinhoff subsidiaries (together, the “Transaction”).

Shareholders and Noteholders are hereby advised that all conditions precedent to the
Transaction have now been fulfilled and accordingly the Framework Agreement is
unconditional in all respects.

The Pepkor Consideration Shares will be issued to the relevant Steinhoff Subsidiaries in
various tranches as and when the respective properties are transferred to the relevant
purchaser.

Parow
14 April 2021

Equity Sponsor        Debt Sponsor                  Legal Advisor
PSG Capital           Rand Merchant Bank (A         ENSafrica
                      division of FirstRand Bank
                      Limited)

Date: 14-04-2021 09:00:00
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