PPC LIMITED - PPC Successfully Concludes Disposal of its 51% Interest in CIMERWA (Rwanda)

PPC Successfully Concludes Disposal of its 51% Interest in CIMERWA (Rwanda)

PPC Limited
(Incorporated in the Republic of South Africa)
(Registration number 1892/000667/06)
JSE ISIN: ZAE000170049
JSE code: PPC ZSE code: PPC
("PPC" or "the Company")

PPC SUCCESSFULLY CONCLUDES DISPOSAL OF ITS 51% INTEREST IN CIMERWA (RWANDA)

PPC shareholders are referred to the announcement published on the Stock Exchange News Service of
the JSE Limited on 17 November 2023 and are advised that the Company's wholly-owned subsidiary, PPC
International Holdings Proprietary Limited, has successfully concluded the disposal of its entire
shareholding in CIMERWA PLC ("CIMERWA") to National Cement Holding Limited for a cash consideration
of US$42.5 million ("Disposal"). All conditions precedent to the Disposal have been fulfilled and the
proceeds received. Approval by the Common Market for Eastern and Southern Africa (COMESA)
Competition Commission, which is not required before implementation of the Disposal is anticipated to
be received within 120 days. Consequently, the effective date of the Disposal is 25 January 2024.

The PPC Group is net cash positive following receipt of the proceeds of the Disposal.

PPC CEO, Matias Cardarelli, said "I am pleased with the timely completion of the sale of our stake in
CIMERWA. CIMERWA is now part of a regional group that is better placed to support its growth. The
Disposal allows us to focus on our core southern African markets where we see opportunities to drive
improved profitability and secure a more sustainable return on capital.


Dunkeld
25 January 2024

JSE Sponsor                                                     Corporate Advisor

Questco Corporate Advisory Proprietary Limited                   Standard Chartered Bank

Legal Advisor

Cliffe Dekker Hofmeyr Inc.

Date: 25-01-2024 12:31:00
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