CONDUIT CAPITAL LIMITED - Disposal of CRIH and CLL: Addendum to Agreement

Disposal of CRIH and CLL: Addendum to Agreement

CONDUIT CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/017351/06)
Share code: CND  ISIN: ZAE000073128
("Conduit Capital")


DISPOSAL OF CRIH AND CLL: ADDENDUM TO AGREEMENT


Shareholders are referred to the announcements released on SENS on:

-   24 May 2023 (and using the terms defined therein unless otherwise stated) wherein shareholders were
    advised that Conduit Capital and its wholly-owned subsidiary, Copper Sunset Trading 186 Proprietary
    Limited ("Copper Sunset"), have entered into an Agreement with TMM Holdings Proprietary Limited
    ("TMM"), an unrelated third party, to dispose of the "Sale Interest" to TMM for an aggregate cash
    purchase price of R55 million ("Disposal"); and

-   30 June 2023, 28 July 2023, 28 August 2023, 27 September 2023, 24 October 2023 and 23 November
    2023 wherein shareholders were advised that the parties to the Agreement ("Parties") have entered
    into addenda thereto to extend the date of fulfilment of the suspensive conditions of the Disposal
    ("Conditions").

The board of directors of Conduit Capital ("Board") is currently awaiting approval of the Disposal from the
Prudential Authority, which is a crucial step in ensuring compliance with regulatory requirements, and one
of the Conditions. The thoroughness and diligence exercised by the Prudential Authority in their assessment
are paramount to the success of the Disposal. Although this process has taken longer than initially
anticipated, the Board remains committed to adhering to the highest regulatory standards. Furthermore, the
circular to shareholders containing full details of the Disposal, including, inter alia, the pro forma financial
effects, is yet to be finalised. Shareholders will be provided with an update by way of a further SENS
announcement.

The Parties have been actively engaged in discussions to finalise the Disposal and while significant
progress has been made, certain critical factors have necessitated a further addendum.

In light of the above, shareholders are hereby advised that the Parties have entered into a further addendum
to the Agreement to extend the date of fulfilment of the Conditions to 29 February 2024.


Cape Town
25 January 2024

Sponsor
Merchantec Capital

Date: 25-01-2024 04:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.