LABAT AFRICA LIMITED - General Issue of Shares for Cash

General Issue of Shares for Cash

LABAT AFRICA LIMITED
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


GENERAL ISSUE OF SHARES FOR CASH


In terms of paragraph 11.22 of the JSE Listings Requirements, shareholders are hereby
advised that Labat Africa has issued 20 395 690 new shares under its General Authority to
issue shares for cash, which was approved by shareholders on 10 May 2022. The Company
has issued 20 395 690 new shares from the date of the approval of the General Authority
representing a cumulative of 5.20% of the issued share capital of the Company from the
date of approval of the general authority.

The new issue of 20 395 690 shares represents 5.20% thereof. The shares were issued at prices
ranging from 21.90 cents to 26.61 cents per share, being a premium to the 30-day volume
weighted average price in accordance with the board approval for the issue of shares for
cash.

As at 29 April 2022, the 10% discount to the 30-day VWAP was 21.68 cents per share.

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 570 885 684 ordinary shares.

Johannesburg
31 May 2022

Sponsor
AcaciaCap Advisors Proprietary Limited

Date: 31-05-2022 03:31:00
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