REMGRO LIMITED - Results of bid in the open market to create liquidity for RCL Foods shareholders

Results of bid in the open market to create liquidity for RCL Foods shareholders

Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
("Remgro" or "the Company")

RESULTS OF BID IN THE OPEN MARKET TO CREATE LIQUIDITY FOR RCL FOODS
SHAREHOLDERS

Shareholders are referred to the announcement released on the Stock Exchange News Service on
2 December 2020 confirming that, following Remgro’s acquisition of 11,096,460 RCL Foods
Limited ("RCL Foods") ordinary shares at a price of R8.05 per share from an RCL Foods
shareholder, Remgro would offer liquidity to other RCL Foods shareholders who may wish to sell
their RCL Foods shares to the Company at the same price.

To this end, Remgro placed bids in the open market between 2 December 2020 and 11 December
2020 to acquire up to a maximum of 100 million RCL Foods shares at R8.05 per RCL Foods
ordinary share ("Remgro Bid").

Shareholders are advised that, in terms of the Remgro Bid, the Company acquired a further
17 843 952 RCL Foods ordinary shares in the open market, representing 1,9% of RCL issued
ordinary shares. Pursuant to implementation of the Remgro Bid, the Company’s shareholding in
RCL Foods has increased from 72,6% of the ordinary shares to 74,5% thereof.

The Remgro Bid was a mechanism to provide liquidity to RCL Foods shareholders at a fixed price
and did not constitute a general or partial offer by Remgro to acquire the remaining voting
securities in RCL Foods in terms of the relevant provisions of the Companies Act 71 of 2008.

Stellenbosch
14 January 2021

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 14-01-2021 03:08:00
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