JSE LIMITED - GEN General - Removal of Listing Announcement

GEN – General - Removal of Listing Announcement

TON - Removal of Listing Announcement

GEN – General - Removal of Listing Announcement

Tongaat Hullet Limited (the "Issuer")

ISIN: ZAE000096541

JSE share code: TON



Removal of Listing Announcement

The Issuer has a listing on the Main Board of the JSE Limited ("JSE"). The Issuer's listing was suspended
on 20 July 2022 due to its failure to publish and distribute its annual financial results for the year ended
31 March 2022.

In terms of paragraph 1.5 of the JSE Listings Requirements (the "Requirements"), if a listing is
suspended and the issuer fails to take adequate steps to enable the JSE to reinstate the listing within
a reasonable period, the JSE may remove the listing.

On 27 October 2022 the Issuer was placed into voluntary business rescue in terms of section 129 of
the Companies Act, No. 71 of 2008. Since its suspension and the commencement of business rescue
proceedings, the Issuer has remained in breach of several important continuing obligations contained
in the Requirements, including the failure to publish outstanding financial information and annual
reports.

As a consequence, the JSE advised the Issuer that it was considering the removal of the Issuer's listing
at the instance of the JSE in terms of section 12(2) of the Financial Markets Act, No. 19 of 2012 and
paragraph 1.8 of the Requirements. The JSE afforded the Issuer an opportunity to make written
representations as to why its listing should not be removed.

In its representations, the Issuer acknowledged the continued non-compliance with the Requirements
and confirmed the persistent absence of auditable financial information capable of publication, due
to the ongoing financial distress facing its business (which gave rise to the business rescue process
itself). The Issuer further indicated that, irrespective of whether the adopted business rescue plan is
successfully implemented or it ultimately enters liquidation, all potential outcomes would result in the
Issuer having no operating business and no realistic prospect of complying with the continuing
obligations applicable to listed companies.

The JSE also noted the Issuer's statement that none of the potential outcomes are expected to result
in value accruing to shareholders and that the retention of a listing may create an expectation of
residual value or eventual reinstatement that is unlikely to materialise.

Having considered all relevant facts and circumstances, including the prolonged suspension and
continuing business rescue process, the extensive and ongoing non-compliance with the
Requirements, the absence of any realistic prospect of restoring compliance and the Issuer's own
acknowledgement that no value is expected to accrue to shareholders, the JSE determined that it is
appropriate and in the public interest for the Issuer's listing to be removed.

The JSE accordingly informed the Issuer that it had decided to remove the listing and advised the Issuer
of its right to appeal the decision in terms of paragraph 1.22 of the Requirements. The Issuer did not
appeal the decision.

Accordingly, shareholders are advised that the Issuer's listing will be removed from the
commencement of business on Tuesday, 3 November 2026 and that they will remain shareholders in
an unlisted company. Further details of the actions to be taken by shareholders and contact details of
the transfer secretaries for queries regarding their unlisted shares are set out in the announcement
made on SENS by the Issuer, immediately after the publication of this announcement

The last day to trade (off-market) will be Tuesday, 27 October 2026 and the record date will be Friday,
30 October 2026.




12 October 2026

Date: 12/10/2026 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.