PEPKOR HOLDINGS LIMITED - Update Relating To The Disposal Of The Building Company Proprietary Limited

Update Relating To The Disposal Of The Building Company Proprietary Limited

PEPKOR HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share Code: PPH
Debt Code: PPHI
ISIN: ZAE000247995
(“Pepkor” or the “group”)

UPDATE RELATING TO THE DISPOSAL OF THE BUILDING COMPANY PROPRIETARY LIMITED (“TBC”)

Pepkor shareholders and noteholders are referred to the SENS announcement released on 31
May 2021 relating to the Competition Commission’s recommended prohibition of the Company’s
disposal of 100% of the issued share capital of TBC to Cashbuild Limited (the “Transaction”).

The approval of the Transaction by the Competition Authorities remains a material outstanding
suspensive condition which would not have been fulfilled by the Transaction long stop date of 16
August 2021 (“Long Stop Date”). As a result of Pepkor and Cashbuild not being able to reach
agreement on an extension to the Long Stop Date, the parties have accordingly agreed to
terminate the Transaction.

TBC has performed well and has made substantial progress to restructure and consolidate the
business while improving its strategic alignment, performance and profitability.

While the disposal of TBC would have enabled Pepkor to streamline its portfolio of businesses in
order to focus on its core business of discount and value retail, Pepkor believes this outcome to
be in the best interest of value creation for Pepkor shareholders and noteholders. The group will
consider future opportunities to unlock value as these may arise.

Parow
12 August 2021

Equity sponsor
PSG Capital

Debt sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 12-08-2021 07:40:00
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