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Renewal of Cautionary Announcement and Partial Withdrawal of Cautionary Announcement
TELEMASTERS HOLDINGS LIMITED
(Registration Number: 2006/015734/06)
JSE Code: TLM ISIN: ZAE000093324
("TeleMasters" or "the Company")
RENEWAL OF CAUTIONARY ANNOUNCEMENT AND PARTIAL WITHDRAWAL OF CAUTIONARY
ANNOUNCEMENT
Shareholders are referred to the previous cautionary announcements published by the Company,
the last of which was dated 20 December 2025.
Withdrawal of Cautionary Announcement - Potential Change in Control
As stated previously, the two largest shareholders of TeleMasters had received a non-binding
expression of interest and term sheet from the BEE company referred to in the cautionary
announcement published on 4 July 2024 ("Acquiror") to acquire all of their shares for a purchase
consideration consisting of cash and shares ("Proposed Transaction").
The Acquiror has advised that their regulatory processes are taking much longer than expected,
which have to be concluded first before they can proceed with acquisitions in South Africa. .
They indicated that they may re-approach the controlling shareholders in due course.
Accordingly, the cautionary announcement in relation to the potential change in control is
withdrawn.
Renewal of Cautionary Announcement - Potential Acquisition
Shareholders are advised that the Company has issued a conditional, binding offer for an
acquisition which would be substantial to TeleMasters and, if concluded, would require
shareholder and regulatory approvals. The binding offer is currently under consideration and the
funding for the transaction is in the process of being secured. A further announcement is expected
later in February 2025.
Renewal of Cautionary Announcement
Due to the potential acquisition, shareholders are advised to continue to exercise caution whilst
dealing in their securities until a further announcement is made.
Responsibility Statement
The board of directors of TeleMasters collectively and individually accepts responsibility for the
information contained in this announcement and certifies that, to the best of its knowledge and
belief, the information contained in this announcement does not omit anything that is likely to
affect the import of such information.
Waterfall City
7 February 2025
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 07-02-2025 08:45:00
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