REMGRO LIMITED - Update on the acquisition of an interest in Maziv by Vodacom

Update on the acquisition of an interest in Maziv by Vodacom

Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
JSE and A2X Share Code: REM
("Remgro")

UPDATE ON THE ACQUISITION OF AN INTEREST IN MAZIV BY VODACOM

Shareholders are referred to the announcement released on SENS on
10 November 2021 (the "terms announcement")and further update
announcements released on 15 May 2023, 10 August 2023, and 28
November 2023, setting out details of Vodacom (Pty) Limited's
("Vodacom") proposed acquisition of a 30% interest in a newly
formed entity Maziv (Pty) Limited ("Maziv") that would house all
of the material assets owned by Community Investment Ventures
Holdings (Pty) Limited ("CIVH"), including Vumatel (Pty) Limited
and Dark Fibre Africa (Pty) Limited (the "transaction"). On
completion of the transaction, Vodacom would hold a 30% equity
interest in Maziv, as well as certain fibre assets which Vodacom
would contribute into Maziv. Vodacom also had an option to acquire
an additional 10% stake in Maziv to increase its shareholding in
Maziv to 40%.

Shareholders are now advised that the Competition Tribunal (the
"Tribunal")   has   prohibited  the  transaction.   We   await the
Tribunal's detailed reasons for prohibiting the transaction which
will be issued in due course. Although we are disappointed by the
Competition    Tribunal's   decision  we   are    considering  all
alternatives at our disposal.

Shareholders are also referred to Vodacom's announcement published
on SENS today.

Stellenbosch
29 October 2024

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 29-10-2024 12:44:00
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