MURRAY & ROBERTS HOLDINGS LIMITED - Murray & Roberts Signs Credit-Approved Term Sheet With South African Banking Consortium

Murray & Roberts Signs Credit-Approved Term Sheet With South African Banking Consortium

MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ISIN: ZAE000073441
("Murray & Roberts" or the "Group")

MURRAY & ROBERTS SIGNS CREDIT-APPROVED TERM SHEET WITH SOUTH AFRICAN BANKING CONSORTIUM

As previously reported, the board of directors of the Company ("the Board") agreed to a
deleveraging plan with the Group's consortium of South African banks ("Banking
Consortium"), which entailed several measures to repay all debt due to the Banking
Consortium, which peaked at approximately R2 billion in April 2023. Through the
implementation of the deleveraging plan, debt with the Banking Consortium has been
reduced to R409 million as at 30 June 2024.

The Board is pleased to announce that it has reached an agreement with the Banking
Consortium with regard to the remaining R409 million debt. A credit-approved term sheet
has been signed, which provides for this remaining debt to be repaid by 31 January 2026.

The Board has resolved to commence a process of disposing of non-core assets to meet
the Group's obligations to its Banking Consortium. These assets have been independently
valued and significantly exceeds the outstanding debt. If required, shareholder approval will
be sought at the appropriate time.

The Board remains committed to refinance its South African debt to the Banking Consortium
and negotiations with potential funders are continuing. Should the refinancing process be
successful, it will obviate the need for the disposal of assets.

Bedfordview

30 August 2024

Sponsor
The Standard Bank of South Africa Limited

Date: 30-08-2024 01:00:00
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