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BAUBA RESOURCES LIMITED - Extension of Closing Date of the Mandatory Offer and Revised Timetable

Release Date: 23/05/2022 10:30
Code(s): BAU RBX     PDF:  
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Extension of Closing Date of the Mandatory Offer and Revised Timetable

Bauba Resources Limited                                Raubex Group Limited
Incorporated in the Republic of South Africa           (Incorporated in the Republic of South Africa)
(Registration number: 1986/004649/06)                  (Registration number: 2006/023666/06)
Share code: BAU ISIN: ZAE000145686                     Share code: RBX ISIN: ZAE000093183
("Bauba")


EXTENSION OF CLOSING DATE OF THE MANDATORY OFFER AND REVISED TIMETABLE


Unless expressly defined in this announcement, or the context indicates otherwise, capitalised terms
herein have the meanings given to them in the combined circular distributed to Shareholders
on Friday, 25 March 2022 ("Circular").

1.      Introduction

        Shareholders are referred to the:

        i.       joint Firm Intention Announcement released on SENS on Thursday, 3 February 2022
                 wherein they were advised of Raubex Group Limited’s firm intention (through its
                 subsidiary, Raubex Proprietary Limited ("Raubex"), acting in concert with Pelagic) to
                 make a mandatory offer to Shareholders to acquire all of their Shares for an Offer
                 Consideration of R0.42 per Share;

       ii.       joint announcement regarding the extension of the Circular distribution date released
                 on SENS on Thursday, 3 March 2022;

       iii.      joint announcement regarding the posting of the Circular released on SENS on
                 Friday, 25 March 2022; and

       iv.       joint finalisation announcement released on SENS on Friday, 13 May 2022.

2.      Extension of Closing Date of the Offer and Revised Dates and Times

        In accordance with paragraph 4.5.3 of Part A of the Circular, Raubex has reserved the right, in
        its sole and absolute discretion, but in accordance with the Companies Act and the
        Takeover Regulations, to extend the Closing Date.

        Shareholders are advised that Raubex has elected to extend the initial Closing Date and time
        until 12:00 on Friday, 10 June 2022. Shareholders should note that this will be the first and only
        extension and that no further extensions will be pursued by Raubex.

        The revised important dates and times in relation to the Offer are set out in the table below:

                                                                                                    2022

          Last Day to Trade for Shareholders wishing to accept the                       Tuesday, 7 June
          Offer
          Shares trade "ex" the Offer                                                  Wednesday, 8 June
          Closing Date of Offer at 12:00                                                 Friday, 10 June
          Record Date for Offer                                                          Friday, 10 June
          Results of Offer to be announced on SENS                                       Monday, 13 June
          Payment Date                                                                   Monday, 13 June
      
        Notes:

        •      Any change to the above dates and times will be agreed upon by Bauba and Raubex,
               approved by the JSE and the TRP (as required), and announced on SENS and, if
               required, published in the South African press, provided that any extension of the
               Closing Date shall be at Raubex's sole discretion.

        •      No Dematerialisation or rematerialisation of Shares will take place between the trading
               ex-date, Wednesday, 8 June 2022 and the Record Date for Offer, Friday, 10 June 2022
               (both days inclusive).

        •      Offerees should note that acceptance of the Offer will be irrevocable.

        •      All times referred to in this announcement are references to South African Standard Time.

3.      Raubex Responsibility Statement

        The Raubex board of directors accepts responsibility for the information contained in this
        announcement insofar as it relates to Raubex. To the best of its knowledge and belief, such
        information contained herein is true and nothing has been omitted which is likely to affect
        the importance of such information.

4.      Independent Board Responsibility Statement

        The Independent Board accepts responsibility for the information contained in this
        announcement insofar as it relates to Bauba. To the best of its knowledge and belief, such
        information contained herein is true and nothing has been omitted which is likely to affect
        the importance of such information.


Johannesburg
23 May 2022

Sponsor to Bauba                                     Legal advisor to Bauba
Merchantec Capital                                   Webber Wentzel


Financial advisor and sponsor to Raubex              Legal advisor to Raubex
Investec                                             DLA Piper


Date: 23-05-2022 10:30:00
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