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Renewal of Cautionary Announcement
CONDUIT CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/017351/06)
Share code: CND ISIN: ZAE000073128
(“Conduit Capital” or “the Company”)
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement released on SENS on 15 April 2021, and the
subsequent renewal of cautionary announcements, the last of which was dated 18 October 2021, wherein it
was advised that Constantia Risk and Insurance Holdings Proprietary Limited (“CRIH”), a wholly-owned
subsidiary of Conduit Capital and the owner of the Constantia group of insurance companies, has entered into
a non-binding term sheet with a non-related third-party investor in order to raise additional equity capital in cash
for CRIH (“Transaction”).
Shareholders are now advised that the negotiations on the Transaction are ongoing with a view to signing a
binding term sheet in due course, and that the investment may be at a Group level with Conduit Capital rather
than at a CRIH level.
The Transaction is expected to improve Conduit Capital’s B-BBEE ownership and inject R450 million to R500
million cash into Conduit Capital which the Company will use to capitalise CRIH for growth.
Shareholders are furthermore advised that the Company received an additional Expression of Interest from a
further third party, which party proposed a transaction to capitalise Conduit Capital with a cash investment.
Negotiations around this proposal are also ongoing.
If successfully concluded, the Transaction may have a material effect on the price of the Company’s securities.
Accordingly, shareholders are advised to continue exercising caution when dealing in the Company’s securities
until a further announcement is made.
Johannesburg
30 November 2021
Sponsor
Merchantec Capital
Date: 30-11-2021 02:30:00
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