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Update on Key Developments
NAMPAK LIMITED
Registration number 1968/008070/06
Incorporated in the Republic of South Africa
Share Code: NPK ISIN: ZAE000322095
Share Code: NPP1 ISIN: ZAE000004966
Share Code: NPKP ISIN: ZAmE000004958
LEI: 3789003820EC27C76729
("Nampak" or "the group" or "the company")
UPDATE ON KEY DEVELOPMENTS
This announcement updates the market on the asset disposal program and the refinancing of the
group.
Asset Disposal Program and Debt Repayment
The lender requirement to repay R720 million of net debt from disposals by 30 September 2024 has
been achieved inter alia utilising the proceeds from the disposals of the Liquid Cartons businesses in
South Africa, Nampak Zambia, Nampak Malawi and Rigid Plastic South Africa.
The last remaining condition for the completion of the sale of the Nigerian Beverage business is the
approval by the Nigerian Federal Competition and Consumer Protection Commission. The
application has been submitted and we await their decision.
The other assets classified as discontinued operations are in the process of disposal or closure and
shareholders will be updated on their status when the results for the year-end 30 September 2024 are
released.
Refinancing
In September 2024 the group successfully concluded the refinancing of the group, utilising a
significantly simplified funding structure, inclusive of only a minor foreign debt component. The
Standard Bank of South Africa financed the transaction in full. Nampak has the option to include
other lenders in the funding structure on or before 25 March 2025. Debt covenants have been reset
in accordance with the group's expected cashflow and earnings profile and interest rates are
adjusted in accordance with the total debt outstanding.
Further details of the refinancing will be made available in the financial statements for the year ended
30 September 2024.
Pre-closed period conference call with management
Nampak management will not convene a pre-closed period conference call.
Nampak expects to release its annual results for the year ending 30 September 2024 on the Stock
Exchange News Service on 2 December 2024. Nampak will be in a closed period from 1 October
2024 until the release of the annual results.
Bryanston
30 September 2024
Sponsor: PSG Capital
Forward-looking statements: Certain statements in this document are not reported financial results or historical
information but forward-looking statements. These statements are predictions of or indicate future events, trends,
future prospects, objectives, earnings, savings or plans. Examples of such forward-looking statements include, but are
not limited to, statements regarding volume growth, increases in market share, exchange rate fluctuations, shareholder
return and cost reductions. Forward-looking statements are sometimes, but not always, identified by their use of a date
in the future or such words as "believe", "continue", "anticipate", "ongoing", "expect", "will", "could", "may", "intend", "plan",
"could", "may", and "endeavour". By their nature, forward-looking statements are inherently predictive, speculative and
involve inherent risks and uncertainties, because they relate to events and depend on circumstances that may or may not
occur in the future. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual
results may differ materially from those anticipated. There are a number of factors that could cause actual results and
developments to differ materially from those expressed or implied by these forward-looking statements. These factors
include, but are not limited to: changes in economic or political conditions and changes to the associated legal, regulatory
and tax environments; lower than expected performance of existing or new products and the impact thereof on the group's
future revenue, cost structure and capital expenditure; the group's ability to expand its portfolio; skills shortage; changes in
foreign exchange rates and a lack of market liquidity which holds up the repatriation of earnings; increased competition,
slower than expected customer growth and reduced customer retention; acquisitions and divestments of group
businesses and assets and the pursuit of new, unexpected strategic opportunities; the extent of any future write-downs
or impairment charges on the group's assets; the impact of legal or other proceedings against the group; uncontrollable
increases to legacy defined benefit liabilities and higher than expected costs or capital expenditures. When relying on
forward-looking statements to make investment decisions, you should carefully consider both these factors and other
uncertainties and events. Forward-looking statements apply only as of the date on which they are made, and we do not
undertake any obligation to update or revise any of them, whether as a result of new information, future events or
otherwise.
Date: 30-09-2024 05:40:00
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