BRIKOR LIMITED - Update on proposed scheme of arrangement and withdrawal of cautionary announcement

Update on proposed scheme of arrangement and withdrawal of cautionary announcement

BRIKOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/013247/06)
(Share Code: BIK ISIN Code: ZAE000101945)
("Brikor" or "the Company")

Update on proposed scheme of arrangement and withdrawal of cautionary announcement

1.     Update on proposed scheme of arrangement

Shareholders are referred to the SENS announcement dated 3 July 2024 regarding the proposed
scheme of arrangement and the subsequent delisting from the JSE in terms of paragraph 1.17(b)
of the JSE Listings Requirements.

In accordance with Companies Regulation 111(4) of the TRP, Brikor is mandated to furnish an
unconditional and irrevocable bank guarantee from a South African registered bank, assuring
the full settlement of the cash consideration as per the Offer. The company is currently in the
process of terminating the Brikor Share Incentive Scheme Trust, causing a delay in obtaining
bank funding for the bank guarantee. Acknowledging this delay, the Brikor board has decided to
defer the proposed scheme of arrangement until the issues related to the Brikor Share Incentive
Scheme Trust are resolved. At present, there is no specific timeline for achieving these
outcomes. Should the circumstances change, shareholders will be duly notified. However, for
the time being, the decision is to indefinitely defer the matter by the Brikor board.

2.     Withdrawal of cautionary announcement

Shareholders are advised that caution is no longer required to be exercised by shareholders when
dealing in their securities.


The Brikor board of directors:
• accepts full responsibility for the accuracy of the information contained in this Announcement;
• confirms that, to the best of its knowledge and belief, the information contained in this
  Announcement is true and correct; and
• confirms that this Announcement does not omit anything likely to affect the importance of the
  information disclosed.


15 August 2024
Nigel

Designated Advisor
Exchange Sponsors

Date: 15-08-2024 03:00:00
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