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Update of disposal of lender claims transaction and update on status of business rescue plan

Buy Tongaat Hulett Stocks
Published: 2023-11-21 18:00:42 ET
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TONGAAT HULETT LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1892/000610/06
Share code: TON
ISIN: ZAE000096541
(“Tongaat” or “the Company”)


   UPDATE OF DISPOSAL OF LENDER CLAIMS TRANSACTION AND UPDATE ON
                   STATUS OF BUSINESS RESCUE PLAN


Shareholders are referred to the announcement published by the Company on 9 November
2023 wherein it was confirmed that Tongaat's secured lender group ("the Secured Lender
Group") had entered into a transaction for the disposal of their claims and security ("the
Lender Claims") with Terris Sugar, Guma, Remoggo and Almoiz ("the Bidding Parties").

The Business Rescue Practitioners (“BRPs") have received confirmation from the Secured
Lender Group that the Bidding Parties and the Secured Lender Group have entered into an
updated transaction for the disposal of the Lender Claims. The updated transaction remains
subject to payment of the purchase price for the Lender Claims.

The BRPs are continuing with the process of finalising the amended business rescue plan for
Tongaat.

Tongaat’s shares remain suspended on the JSE, and shareholders are advised to continue to
exercise caution in relation to the Company’s securities.

21 November 2023

Sponsor
PSG Capital