UNIVERSAL PARTNERS LIMITED - Communique

Communique

UNIVERSAL PARTNERS LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: 138035 C1/GBL)
SEM share code: UPL.N0000
JSE share code: UPL
ISIN: MU0526N00007
("Universal Partners" or "the Company")


COMMUNIQUE


Shareholders and the general public are hereby advised that Glenrock Lux PE No2 SCSp ("Glenrock No2") (a special limited
partnership (société en commandite spéciale) established under Luxembourg law and registered with the Luxembourg Trade and
Companies Register under number B257054) acquired on 17 September 2021, a total of 13 446 137 ordinary shares in the Company
("UPL shares"). 13 042 190 UPL shares were acquired on the South African market at ZAR 17.50 each, and the remaining 403
947 UPL shares were acquired on the SEM at GBP 0.87 per share.

Separately and in addition to the aforegoing, in March 2021, Glenrock Lux PE No1 SCSp ("Glenrock No1") (a special limited
partnership (société en commandite spéciale) established under Luxembourg law and registered with the Luxembourg Trade and
Companies Register under number B251592) acquired 11 306 729 UPL shares on the SEM.

As a consequence of the aforegoing transactions, Glenrock No1 and Glenrock No2 (collectively referred to as "Glenrock") now
collectively hold 24,752,866 UPL shares, representing 34.2% of the voting rights attached to the ordinary shares of Universal
Partners.

In as much as the same general partner manages and controls both Glenrock No1 and Glenrock No2, in acquiring the aforesaid
shares, Glenrock No1 and Glenrock No2 are regarded as having acted in concert (and have acquired 'effective control' over
Universal Partners, as that term is defined under the Mauritian Securities (Takeover) Rules 2010 (the "Takeover Rules")).

Accordingly, Glenrock represented by its general partner (a Luxembourg limited liability company), will be required to make a
mandatory offer as soon as practicable to the remaining shareholders of the Company, to acquire all the voting shares of the
Company not already held by Glenrock, in terms of Rule 33 (1) (c) of the Takeover Rules.

Shareholders will be kept informed of any further development regarding the above matter.

Universal Partners has its primary listing on the Official List of the Stock Exchange of Mauritius Ltd and a secondary listing on the
Alternative Exchange of the Johannesburg Stock Exchange.

By order of the Board

23 September 2021

For further information please contact:



                                                SEM authorised representative
              JSE sponsor                                and sponsor                                  Company Secretary
             Java Capital                             Perigeum Capital                           Intercontinental Trust Ltd 
         Tel: +27 11 722 3050                        Tel: +230 402 0890                              Tel: +230 403 0800


This notice is issued pursuant to SEM Listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure Obligations of
Reporting Issuers) Rules 2007. The Board of Universal Partners accepts full responsibility for the accuracy of the
information contained in this announcement.

Date: 23-09-2021 10:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.