MAS PLC - Withdrawal of proposal of repurchase transaction

Withdrawal of proposal of repurchase transaction

MAS P.L.C.
Registered in Malta
Registration number C 99355
JSE share code: MSP
ISIN: VGG5884M1041
LEI code: 213800T1TZPGQ7HS4Q13
("MAS")


WITHDRAWAL OF PROPOSAL OF REPURCHASE TRANSACTION


Unless the context indicates otherwise, terms used in this announcement bear the same meaning as defined in the
SENS announcement published on 3 March 2025.

Shareholders are referred to the announcement published on 3 March 2025 relating to the conclusion of the framework
agreement with Prime Kapital and DJV regarding the proposed Repurchase Transaction, whereby DJV repurchases
the 60% ordinary equity held by Prime Kapital in it and terminates the joint venture arrangements approximately 10
years earlier than the minimum contractual term of DJV.

In terms of the framework agreement, the Repurchase Transaction is subject inter alia to the parties obtaining all
applicable corporate authorisations, including board and shareholder approval, necessary to implement the Repurchase
Transaction.

On 15 April 2025, Prime Kapital notified MAS that Prime Kapital's board of directors has resolved not to approve the
Repurchase Transaction or the terms of the various transaction documents, and no longer intend to engage with MAS
on the matter, or any similar transaction. As one of the conditions precedent will not be fulfilled, there is no prospect of
the Repurchase Transaction becoming unconditional and MAS shareholder approval for the Repurchase Transaction
will consequently not be sought. Prime Kapital did not provide reasons for its board's decision.

16 April 2025


For further information please contact:
Irina Grigore, MAS P.L.C.                                      +356 27 66 36 91
Java Capital, JSE Sponsor                                      +27 (0)78 456 9999

Date: 16-04-2025 05:45:00
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