Sharenet Sites 
Sharenet Sites
Renewal of Detailed Cautionary Announcement Relating to the Proposed Disposal of Blue Ridge Platinum (Pty) Ltd
MANTENGU LIMITED
(formerly Mantengu Mining Limited)
Incorporated in the Republic of South Africa
(Registration number 1987/004821/06)
Share code: MTU ISIN: ZAE000320347
("Mantengu" or "the Company")
RENEWAL OF DETAILED CAUTIONARY ANNOUNCEMENT RELATING TO THE PROPOSED DISPOSAL OF
BLUE RIDGE PLATINUM (PTY) LTD
In compliance with paragraph 8.14 of the JSE Limited Listings Requirements, shareholders are advised
that the board of directors of the Company ("Board") remains engaged in advanced negotiations
with Afresources Mining (Pty) Ltd ("Afresources") regarding the potential disposal by the Company of
its entire shareholding and claims in Blue Ridge Platinum (Pty) Ltd ("Blue Ridge") (the "Proposed
Transaction").
Afresources is a diversified mining group owned and controlled by Gani Bros Equity (Pty) Ltd, which is
in turn owned and controlled by various trusts and entities associated with, and controlled by, the
Gani family. Afresources is not a related party to Mantengu.
Shareholders are reminded that the Proposed Transaction contemplates the disposal by the
Company and the minority shareholders of Blue Ridge of their respective 70% and 30% shareholdings
and shareholder claims in Blue Ridge to Afresources for an aggregate cash purchase consideration
of R50 million.
The Proposed Transaction remains subject to, inter alia, the satisfactory completion of due diligence
investigations, the negotiation and execution of definitive transaction agreements, the fulfilment or
waiver of any applicable conditions precedent and the receipt of any required regulatory and
corporate approvals.
Second unsolicited offer
Subsequent to the commencement of the exclusive negotiations with Afresources, the Company
received a competing firm conditional offer from an unrelated third party to acquire the entire issued
share capital of, and shareholder claims against, Blue Ridge for an aggregate cash purchase
consideration greater than the Afresources offer. The competing offer is stated to be irrevocable for
a period of 30 days and is subject to, inter alia, the negotiation and execution of definitive transaction
agreements, confirmatory due diligence, regulatory approvals and the fulfilment of customary
conditions precedent.
The Company is currently subject to exclusivity arrangements in favour of Afresources and is therefore
not presently in a position to engage with the competing bidder. The Board continues to assess its
obligations under the existing exclusivity arrangements and to discharge its fiduciary duties in the best
interests of the Company and its shareholders.
Based on the information currently available, the Proposed Transaction is expected to constitute a
Category 2 transaction in terms of the JSE Listings Requirements. The Company will make further
announcements should there be any material developments.
Renewal of Cautionary Announcement
Shareholders are advised that, if successfully concluded, the Proposed Transaction may have a
material effect on the price of the Company's securities. Accordingly, shareholders are advised to
continue exercising caution when dealing in the Company's securities until a further announcement
is made.
The Company further advises shareholders that it remains under cautionary in respect of the proposed
Averi Finance transaction, as announced on SENS on 20 May 2026.
By Order of the Board
6 July 2026
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 06-07-2026 03:15:00
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.
