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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”)
NOTICE OF SUSPENSION OF LISTING OF CONDUIT CAPITAL SHARES ON THE JSE
Shareholders are referred to the various announcements released on SENS, the most recent of which is
dated 14 September 2022 (and using the terms defined therein unless otherwise stated herein) pertaining
to, inter alia, the Prudential Authority’s application to place Constantia Insurance Company Limited (“CICL”)
into liquidation (“Application”), and the granting by the High Court of the provisional liquidation order
(“Order”).
In light of the aforementioned circumstances, the Board has applied to the JSE pursuant to paragraph 1.10
of the Listings Requirements, and has been granted approval by the JSE, for the suspension of trading in
the Company’s securities on the JSE with immediate effect on the following basis:
o whilst the Order is not in respect of Conduit Capital itself, CICL is by far the Conduit Capital Group’s
largest operating subsidiary, representing more than 90% of revenue of the consolidated Group for the
three financial years ended 30 June 2021and the six months ended 31 December 2021. Accordingly,
paragraph 1.10(a) of the Listings Requirements of the JSE (“JSE”) is relevant;
o given the material contribution of CICL to the Conduit Capital Group, the provisional liquidation could
have a material impact on the affairs of the Conduit Capital Group, including its future listing;
o the boards of directors of Conduit Capital and its subsidiaries still have full control over the affairs of
the rest of the Conduit Capital Group companies and the Board has a requirement to preserve the
interests of the Company;
o as a result of the provisional curatorship and subsequent 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”) and
is unlikely to be in a position to publish its audited 2022 year end financial results (“Financial Results”)
before 31 October 2022; and
o the Board has deemed it prudent and in the best interests of shareholders that trade in the Company’s
shares is suspended until such time as the Board has had an opportunity to further engage with the
liquidator, assess the full impact of the provisional liquidation on the Conduit Capital business and
publish its Financial Results.
Johannesburg
21 September 2022
Sponsor
Merchantec Capital
