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Quarterly Progress Report - February 2025
SALUNGANO GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number 2005/006913/06)
Share code: SLG ISIN: ZAE000306890
("Salungano Group" or "the Company")
QUARTERLY PROGRESS REPORT – FEBRUARY 2025
Shareholders are referred to the ongoing suspension in trading of the Company's shares on the JSE Limited
("JSE"), which came into effect on 21 August 2023 ("the Suspension") for failing to publish its audited financial
results for the year ended 31 March 2023 ("FY2023 financial results") within the prescribed period.
In terms of paragraph 1.11(c) of the JSE Listings Requirements, Salungano Group is required to provide
shareholders with an update on a quarterly basis until the Suspension is lifted, on the state of affairs of the
Company and any action proposed by the Company in order to have the listing reinstated, including the date
on which the suspension is expected to be lifted.
Delays in the publication of financial results
Shareholders are referred to the quarterly progress report released on SENS on 29 November 2024 ('Quarterly
Progress Report – November 2024') wherein they were advised that the Company intends to publish its audited
financial results for the year ended 31 March 2024 ("FY2024 financial results"), which, in terms of the JSE
Listings Requirements were required to be published by no later than 30 June 2024, on or about 31 March
2025, and its interim results for the six months ended 30 September 2024 ("FY2025 interim financial
results"), which were required to be published by no later than 31 December 2024, shortly thereafter.
Keaton Mining – withdrawal of cautionary
As set out in the announcement released on SENS on 6 January 2025, shareholders were informed that the
content referred to in the Keaton Mining cautionary announcement released on SENS on 27 February 2024
and subsequent renewals thereof had ceased to have any relevance and effect on the Company, and that
caution was no longer required to be exercised when dealing in the Company's securities, as previously
advised. The cautionary was therefore withdrawn on 6 January 2025.
Date on which Suspension is expected to be lifted
As previously advised in the Quarterly Progress Report – November 2024, noting that the Company intends
to release the FY2024 financial results on or about 31 March 2025 and the FY2025 interim financial results
shortly thereafter, it remains the Board's current best estimate that the Suspension will be lifted on or about
mid-April 2025.
Johannesburg
28 February 2025
Sponsor
Merchantec Capital
Date: 28-02-2025 09:22:00
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