SYGNIA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/025416/06)
Share code on the JSE and A2X: SYG
ISIN: ZAE000208815
(“Sygnia” or “the Company”)

ANNOUNCEMENT REGARDING RELATED PARTY TRANSACTIONS BETWEEN SYGNIA ASSET
MANAGEMENT (PTY) LTD, BERET PROPERTIES (PTY) LTD AND WIDOK PROPERTIES (PTY)
LTD

Renewal of Lease Agreements
Shareholders are advised that Sygnia Asset Management Proprietary Limited (“SAM”), a subsidiary of
Sygnia, has entered into agreements in terms of which it has renewed certain lease agreements with related
parties (“Transactions”).
In terms of Section 10.1 of the Listings Requirements of the JSE Limited (“JSE”) the Transactions are
categorised in the aggregate as a small related party transaction. The details relating to the Transactions are
set out below.
Lease Terms
SAM has entered into renewals of its property lease agreements as follows:
   -    The Foundry, Cardiff Street, Green Point, Cape Town, 8001 in terms of the following lease
        agreements commencing on 1 March 2023 and terminating on 29 February 2024:
        -   between Beret Properties Proprietary Limited (“Beret”) and SAM for a portion of the 5th floor;
        -   between Widok Properties Proprietary Limited (“Widok”) and SAM for a portion of the 6th and 7th
            floors and 66 parking bays in the parking garage;
        -   the aggregate gross monthly rental is R580,693.65 (excluding VAT)
   -    Newport House, 57 Prestwich Street, De Waterkant, Cape Town, 8001 in terms of the lease
        agreements between Beret and SAM for a portion of the 1st, 2nd and 3rd floors and 35 parking bays,
        commencing on 1 March 2023 and terminating on 29 February 2024. The aggregate gross monthly
        rental is R376,107.50 (excluding VAT).
   -    Katherine and West Building, West Street, Johannesburg, Sandton, 2196 in terms of a lease
        agreement between Beret and SAM for unit 40 on the 7th floor and 37 parking bays, commencing
        on 1 March 2023 and terminating on 29 February 2024. The aggregate gross monthly rental is
        R318,491.35 (excluding VAT).
(collectively the “Agreements”).
Related Party Considerations
Magda Wierzycka (“MW”) is a related party to the Company as she is the Executive Chairman of Sygnia and
a material shareholder in Sygnia via her associate, The Zatoka Trust, and her spouse, Mr Simon Peile. Beret
and Widok are 100% owned by The Zatoka Trust and are associates of MW (as defined in section 10.1(b)(vii)
of the JSE Listings Requirements read together with the definition of “associate”).
The entering into of the Agreements constitutes a small related party transaction as per the JSE Listings
Requirements and in terms of Section 10.7 of the JSE Listings Requirements the Company is required to
provide the JSE with written confirmation from an independent professional expert confirming whether the
terms and conditions of the Agreements are fair insofar as the shareholders of Sygnia (“Shareholders”) are
concerned.
Independent fairness opinion

In compliance with paragraph 10.7(b) of the JSE Listings Requirements, PSG Capital Proprietary Limited
("PSG Capital") was appointed by the Company as the independent professional expert to opine on the
Transactions.
PSG Capital’s draft fairness opinion (“Independent Expert Opinion”) is currently being reviewed by the JSE,
whereafter it will lie open for inspection at Sygnia’s registered office, 7th Floor, The Foundry, Cardiff Street,
Cape Town, 8001, and/or be available through a secure electronic manner upon request, for a period of 28
days from the date of issue. Shareholders will be advised further in this regard.



Cape Town
01 March 2023

Sponsor:
The Standard Bank of South Africa Limited

Independent Expert
PSG Capital