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Disposal of CIMERWA (Rwanda) - COMESA approval
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")
DISPOSAL OF CIMERWA (RWANDA) - COMESA APPROVAL
Shareholders are referred to the announcements published on SENS on 17 November 2023 and 25 January
2024, wherein they were advised of the disposal of PPC's 51% interest in CIMERWA Plc to National Cement
Holding Limited for a cash consideration of US$42.5 million ("the Disposal Consideration'). The transaction
closed on 25 January 2024 and the Disposal Consideration was received in full. However, the approval of
the disposal by the Common Market for Eastern and Southern Africa ("COMESA") remained outstanding
as a condition subsequent. The board of directors ("Board") is pleased to report that approval of this
disposal by COMESA has now been received.
As communicated in the release of the results for the year ended 31 March 2024, the use of the net
Disposal Consideration (after transaction costs) will be considered by the Board in terms of its capital
allocation model and optimal gearing levels with the possibility of a special dividend, being considered.
The market will be updated in due course once the Board has reached its determination.
Dunkeld
25 July 2024
JSE Sponsor Corporate Advisor
Questco Corporate Advisory Proprietary Limited Standard Chartered Bank
Legal Advisor
Cliffe Dekker Hofmeyr Inc.
Date: 25-07-2024 01:00:00
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