MUSTEK LIMITED - Dealing in securities by the Mustek Executive Share Trust

Dealing in securities by the Mustek Executive Share Trust

MUSTEK LIMITED
Incorporated in the Republic of South Africa
(Registration number 1987/070161/06)
Share Code: MST ISIN: ZAE000012373
("Mustek" or "the Company")


DEALING IN SECURITIES BY THE MUSTEK EXECUTIVE SHARE TRUST (SHARE TRUST)
In compliance with the JSE Limited Listings Requirements, shareholders are hereby advised of the
following off-market dealing in Mustek securities by the Share Trust:

Name:                             Share Trust
Nature of transaction:            Execution of rights in terms of cession
Class of securities:              Ordinary shares
Date of transaction:              12 June 2024
Number of ordinary shares:        2 250 000
Price per share:                  R9.19
Price determination:              30 day VWAP as agreed with executor of estate of Late David Kan
                                  ("Kan")
Total value of transaction:       R20,677,500
Nature of interest:               Direct beneficial
Clearance obtained:               Yes

On 23 June 2014, Kan (the erstwhile CEO of Mustek) borrowed an amount of R 22 522 500 ("the Loan")
from the Share Trust solely for the purposes of funding the purchase of 2 250 000 Mustek ordinary
shares ("the Securities"), in terms of certain share options granted to him by the Share Trust. In terms
of the Loan agreement, Kan ceded all his rights, title and interest in and to all Securities as security for
his indebtedness under the Loan agreement.

After the passing of Mr Kan, the Share Trust demanded repayment of the Loan from Kan's estate and
exercised its rights in terms of the cession. A notice of exercise was issued to the estate and the Share
Trust appropriated the Securities.


Midrand
18 June 2024

Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited

Date: 18-06-2024 03:00:00
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