Enhanced Investments - Financial Portal

Potential store closure of Game stores in East and West Africa

Published: 2022-10-05 08:06:24 ET

[Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
Company registration No. 1940/014066/06
JSE Code: MSM
ISIN: ZAE 000152617
("Massmart", "Company" or the "Group")


Potential store closure of Game stores in East and West Africa

Shareholders are referred to the Integrated Annual Report for the year ended 26 December 2021 where
Massmart disclosed in the notes that, following a review of its Game store portfolio in East and West
Africa, it was exploring the possible disposal of the East and West African stores to local investors and
entrepreneurs with a more intimate understanding of regional and local market conditions.

As a result, Massmart initiated a process over a 12-month period to investigate, as a preferred option, the
opportunity to sell our East and West African stores to local investors. Unfortunately, this initiative did not
deliver a meaningful outcome.

Consequently, we have initiated potential store closure consultations with our staff members in our Game
stores in East and West Africa.


5 October 2022
Johannesburg

Sponsor
J.P. Morgan Equities South Africa (Pty) Ltd

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.