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Sharenet Sites
Termination of stabilisation activities and implementation of the overallotment option
Boxer Retail Limited
(formerly Boxer Retail Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2024/392006/06)
JSE and A2X share code: BOX
ISIN: ZAE000339891
(the "Company" or "Boxer")
TERMINATION OF STABILISATION ACTIVITIES AND IMPLEMENTATION OF THE OVERALLOTMENT
OPTION
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO ANY PERSON IN ANY
JURISDICTION TO SELL OR ISSUE OR AN OFFER TO BUY OR SUBSCRIBE FOR, ANY SECURITY,
NOR SHALL THERE BE ANY SALE, ISSUANCE, TRANSFER OR DELIVERY OF THE SECURITIES
REFERRED TO IN THIS ANNOUNCEMENT IN ANY JURISDICTION IN CONTRAVENTION OF
APPLICABLE LAW, OR WHERE FURTHER ACTION IS REQUIRED FOR SUCH PURPOSE.
Unless otherwise stated, capitalised terms used in this announcement have the same meaning
given in the Company's pre-listing statement issued and made available on the Company's investor
relations website at www.boxerinvestor.co.za and on the investor relations website of Pick n Pay
Stores Limited at www.picknpayinvestor.co.za on Monday, 11 November 2024 (the "Pre-listing
Statement").
Shareholders are referred to the announcement released by the Company on SENS on 10 December 2024
regarding the discontinuation and cessation of Stabilisation considering the performance of the Ordinary
Shares since Admission.
The Company hereby informs Shareholders that in light of the discontinuation and cessation of Stabilisation,
the Overallotment Option has been successfully implemented for a total subscription consideration of
ZAR500 million in accordance with the Placement Agreement and the Stabilisation Manager will use the
Overallotment Shares acquired pursuant to the Overallotment Option to close out its short position and
settle its redelivery obligations pursuant to the Securities Lending Agreement, as announced on Tuesday,
10 December 2024.
As outlined in the announcement released by the Company on Monday, 25 November 2024 (the "Pricing
Announcement"), the Company hereby confirms that the final size of the Offer is ZAR8.5 billion and the
Company's total issued share capital comprises 457,407,408 Ordinary Shares and Pick n Pay holds
300,000,000 Ordinary Shares (representing 65.6% of the total issued share capital of the Company).
13 December 2024
Durban
Joint Global Coordinators and Joint Bookrunners
Rand Merchant Bank (a division of FirstRand Bank Limited)
Morgan Stanley & Co. International plc
Absa Bank Limited, acting through its Corporate and Investment Banking division
The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking division
Sponsor and Stabilisation Manager
Rand Merchant Bank (a division of FirstRand Bank Limited)
South African legal adviser to the Company
Bowman Gilfillan Inc. t/a Bowmans
International legal adviser to the Company
Milbank LLP
South African legal adviser to Joint Global Coordinators and Joint Bookrunners
Webber Wentzel
International legal adviser to Joint Global Coordinators and Joint Bookrunners
Linklaters LLP
DISCLAIMER
Shareholders are referred to the Pricing Announcement for the full disclaimers which apply mutatis
mutandis to this announcement (including the information contained herein) and are incorporated by
reference in full in this announcement, as if specifically stated.
Date: 13-12-2024 07:30:00
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