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GRAND PARADE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/003548/06)
JSE share code: GPL
ISIN: ZAE000119814
("GPL" or the "Company")
and
GMB LIQUIDITY CORPORATION
PROPRIETARY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2022/587629/07)
("GMB" or the "Offeror")
UPDATE ANNOUNCEMENT REGARDING THE MANDATORY OFFER
1. INTRODUCTION
1.1 GPL Shareholders are referred to the Firm Intention Announcement released on SENS on
Wednesday, 9 November 2022, by the Offeror and GPL setting out the terms of the Offeror's
firm intention to propose the Mandatory Offer to GPL Shareholders and to the circular
detailing the Mandatory Offer (“Circular”) which was distributed to GPL Shareholders on
Thursday, 15 December 2022.
1.2 All capitalised terms used but not defined in this announcement shall bear the meanings
ascribed to them in the Circular.
2. MANDATORY OFFER CONDITIONS
2.1 Further to the update announcement released on SENS yesterday, Shareholders are hereby
advised that the Company and the Offeror have received conditional merger approval from
the Competition Commission for the implementation of the Mandatory Offer. The Offeror has
accepted such conditions.
2.2 A further announcement will be released by the Company once all the conditions precedent
to the Mandatory Offer have been fulfilled.
3. INDEPENDENT BOARD RESPONSIBILITY STATEMENT
The Independent Board accepts responsibility for the information contained in this
announcement insofar as it relates to GPL and the Mandatory Offer. To the best of their
collective knowledge and belief, the information contained in this announcement is true and this
announcement does not omit anything likely to affect the importance of the information.
4. OFFEROR RESPONSIBILITY STATEMENT
The Offeror accepts responsibility for the information contained in this announcement insofar
as it relates to detail around the Offeror and the Mandatory Offer. To the best of its knowledge
and belief, the information contained in this announcement is true and this announcement does
not omit anything likely to affect the importance of the information.
Cape Town
16 March 2023
FINANCIAL ADVISER TO GPL
Rand Merchant Bank, a division of FirstRand Bank Limited
SPONSOR TO GPL
PSG Capital Proprietary Limited
LEGAL ADVISER TO GPL
Clyde & Co LLP
LEGAL ADVISER TO GMB
Solaris Law Proprietary Limited
