SABVEST CAPITAL LIMITED - Variation of interests in Apex and debt reduction
Variation of interests in Apex and debt reduction
SABVEST CAPITAL LIMITED
(Incorporated in South Africa)
(Registration number 2020/030059/06)
Share code: SBP
ISIN: ZAE000283511
("Sabcap" or "the Company" or "the Group")
VARIATION OF INTERESTS IN APEX AND DEBT REDUCTION
Shareholders are advised that Sabcap has varied its interests in Apex Partners Holdings
Proprietary Limited (Apex) as part of a capital restructure and management shareholding
realignment in Apex with the result that:
- Sabcap's voting interest in Apex has reduced from 49,8% to 40,6%.
- Sabcap's economic interest in Apex has reduced from 46,4% to 40,6%.
- The shareholdings of executive management in Apex have increased.
- Sabcap has received R140,5m in cash arising from the implementation of the transactions
(the Receipts).
- The Receipts have been applied to a reduction of term debt in Sabcap subsidiaries which
totalled R600m at 31 December 2023 and is now R160m after other inflows during the year
and the Receipts.
Sandton
13 December 2024
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 13-12-2024 07:05:00
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