WORKFORCE HOLDINGS LIMITED - Dealings in Securities by an Associate of a Director

Dealings in Securities by an Associate of a Director

Workforce Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2006/018145/06)
Share code: WKF  ISIN: ZAE000087847
(“Workforce” or “the Company”)


DEALINGS IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR


In compliance with paragraphs 3.63 to 3.74 (both inclusive) of the Listings Requirements of JSE Limited, the
following is disclosed:

Name of director:                          Mr RS Katz
Company:                                   Workforce Holdings Limited
Name of associate:                         Force Holdings Proprietary Limited (“Force Holdings”)
Relationship of director to associate:     Mr RS Katz, the sole director of Force Holdings who is however, not
                                           a shareholder, controls the exercise of more than 35% of the votes
                                           of Force Holdings.
Class of securities:                       Workforce ordinary shares
Nature of transaction:                     The off-market acquisition by Force Holdings of the entire issued
                                           ordinary share capital of Verbicept Proprietary Limited
                                           (“Verbicept”), the sole asset of which comprises 42 900 000
                                           Workforce ordinary shares.
Extent of director’s interest:             Indirect beneficial
Date of transaction:                       3 October 2023
                    1
Number of securities :                     42 900 000
                         1
Deemed price per security :                R1.65
Deemed total value:                        R35 392 500.00

1
 Force Holdings holds a preference share in Verbicept that is convertible into 50% of the equity in Verbicept. As
such, Force Holdings has the right to 50% of the value of the underlying assets of Verbicept and has therefore
only paid for half of the total deemed value of the Workforce ordinary shares. The deemed price of R1.65 per
Workforce ordinary share is therefore in respect of 21 450 000 Workforce ordinary shares.


Johannesburg
4 October 2023


Designated Adviser
Merchantec Capital

Date: 04-10-2023 03:15:00
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