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LABAT AFRICA LIMITED - General Issue of Shares for Cash

Release Date: 08/12/2021 11:35
Code(s): LAB     PDF:  
Wrap Text
General Issue of Shares for Cash

Incorporated in the Republic of South Africa
(Registration number 1986/001616/06)
JSE code: LAB ISIN: ZAE000018354
(“Labat” or “the Company” or “the Group”)
LEI 9845000R73DF5EE41J88


In terms of paragraph 11.22 of the JSE Listings Requirements, shareholders are hereby
advised that Labat Africa has issued 6 823 431 new shares under its General Authority to
issue shares for cash, which was approved by shareholders on 11 May 2021. The Company
has issued 57 696 230 new shares from the date of the approval of the General Authority
representing a cumulative of 15.30% of the issued share capital of the Company from the
date of approval of the general authority.

The new issue of 6 823 431 shares represents 1.74% thereof. The shares were issued at prices
ranging from 23.18 cents to 25.15 cents per share, being a premium to the 30-day volume
weighted average price at the date of board approval for the issue of shares for cash.

The funds received are being applied to the expansion of the cannabis healthcare business
and working capital.

The shares issued rank pari passu with existing listed Labat Africa ordinary shares. Following
the issue of the shares, the total issued and listed share capital of Labat Africa has increased
to 505 821 316 ordinary shares.

8 December 2021

AcaciaCap Advisors Proprietary Limited

Date: 08-12-2021 11:35:00
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