INSIMBI INDUSTRIAL HOLDINGS LIMITED - Update on rationalising non-core operations

Update on rationalising non-core operations

Insimbi Industrial Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2002/029821/06)
Share code: ISB ISIN: ZAE000116828
(“Insimbi” or “the Company”)

UPDATE ON RATIONALISING NON-CORE OPERATIONS

As part of Insimbi’s ongoing drive to improve efficiency and move away from certain non-
performing marginal activities, the board recently resolved to exit the Company’s non-core
operation, Insimbi Plastics Proprietary Limited (“Insimbi Plastics”) and to dispose of its assets
and/or business.

The board believes this to be in the best interests of the Company and its shareholders. The
closure and disposal of Insimbi Plastics will streamline the operations of the group, ensuring
an improved platform to pursue continued growth.

The Company has been engaging with labour unions regarding the closure and expects the
relevant processes to be finalised by the end of August 2022.

The Company will now commence active engagement on the sale of the assets and/or
business of Insimbi Plastics and shareholders will be updated in this regard in due course.

Johannesburg
6 July 2022

Sponsor
PSG Capital

Date: 06-07-2022 07:45:00
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.