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Renewal of Cautionary Announcement and Update on Financial Results

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Published: 2023-02-17 17:55:39 ET
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                                       CONDUIT CAPITAL LIMITED
                                Incorporated in the Republic of South Africa
                                   (Registration number 1998/017351/06)
                                 Share code: CND       ISIN: ZAE000073128
                          (“Conduit Capital” or “the Company” or “the Group”)


      RENEWAL OF CAUTIONARY ANNOUNCEMENT AND UPDATE ON FINANCIAL RESULTS


Shareholders are referred to the cautionary announcement released on SENS on 21 June 2022 and to the
subsequent renewal of cautionary announcements, the last of which was dated 6 January 2023, and to the
announcements released on SENS on 14 September 2022 and 21 September 2022 (and using the terms
defined therein unless otherwise stated herein) regarding, inter alia:
o    the High Court’s granting of a provisional liquidation order to place CICL into liquidation (“Order”); and
o    the Board’s request for the suspension of trade in the Company’s shares until such time as the Board
     has had an opportunity to further engage with the liquidator, assess the full impact of the Order on the
     Conduit Capital business and publish its audited financial results for the year ended 30 June 2022.
Given that CICL is Conduit Capital’s main subsidiary and the uncertainty of the impact of the Order on
Conduit Capital, shareholders are advised to continue to exercise caution when dealing in the Company’s
securities until a further announcement is made.
Publication of audited annual financial statements for the year ended 30 June 2022
Shareholders were advised in the announcement dated 21 September 2022 that, inter alia, as a result of the
Order, Conduit Capital has experienced a delay in the finalisation of the Company’s audit for the year ended
30 June 2022 (“2022 year end”). As a result of the events at CICL, the auditors were unable to complete
the audit of CICL for the 2022 year end due to a pervasive scope limitation.
The Group audit work has subsequently resumed, with the audits of the remaining insurance companies in
the Group having been finalised. Accordingly, the requisite statutory submissions to the Prudential Authority
have been made. Work on finalising the audit of the remainder of the Group has commenced, although
formal timelines for completion of the audit have yet to be determined. This matter remains a priority under
the current circumstances.

Cape Town
17 February 2023

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