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Quarterly Progress Report - February 2026
SALUNGANO GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number 2005/006913/06)
Share code: SLG ISIN: ZAE000306890
("Salungano Group" or "the Company")
QUARTERLY PROGRESS REPORT – FEBRUARY 2026
Shareholders are referred to the ongoing suspension in trading of the Company's shares on the JSE Limited
("JSE"), which came into effect on 21 August 2023 ("the Suspension"), due to the Company's failure to publish
its audited financial results for the year ended 31 March 2023 ("FY2023 financial results") within the
prescribed period.
In terms of paragraph 1.11(c) of the JSE Listings Requirements, the Company is required to provide
shareholders with an update on a quarterly basis until the Suspension is lifted, on the current state of affairs
of the Company and any proposed steps to reinstate the listing, including the date on which the Suspension is
expected to be lifted.
Annual general meeting
Since the publication of the Company's previous quarterly report on SENS on 28 November 2025 ('Quarterly
progress report – November 2025') ("28 November 2025 Report"), the Company has held its annual general
meeting ("AGM") for the year ended 31 March 2024 on 2 December 2025 and released the results of the AGM
on SENS on the same date ('Results of annual general meeting) ("2 December 2025 announcement").
Shareholders were previously advised, in the notice of annual general meeting for the year ended 31 March
2024 ("Notice"), released on SENS on 4 November 2025 ('Distribution of annual report and notice of annual
general meeting') that the AGM would be conducted by electronic communication. In the 2 December 2025
announcement, shareholders were advised that all the resolutions as set out in the Notice were passed by the
requisite majority of shareholders at the AGM.
Trading statement and publication of FY2025 interim results
A trading statement was released on SENS on 10 December 2025 ('Trading statement'), advising
shareholders, inter alia, that the Company's interim financial results for the six months ended 30 September
2024 ("FY2025 interim results") were expected to be released on SENS on or about 12 December 2025.
On 12 December 2025, the Company released its FY2025 interim results on SENS ('Unreviewed condensed
consolidated interim financial results for the six months ended 30 September 2024') and provided shareholders
with salient features of the period under review and the reasons for the improvement of the Salungano Group's
performance in the first half of FY2025, compared to the prior comparative period.
Shareholders were further advised that any forward-looking statements included in the FY2025 results were
the responsibility of the directors and had not been audited, reviewed or reported on by the Company's external
auditors, SNG Grant Thornton Inc. Links to the Company's website and the JSE's Cloudlink were provided,
where the results remain available.
Publication of the FY2025 financial results
In the 28 November 2025 Report, shareholders were advised that the release of the FY2025 interim results
would be followed by the publication of the audited financial results for the year ended 31 March 2025
("FY2025 financial results"), estimated to be released no later than (and preferably before) 31 March 2026.
The positive and progressive developments that facilitated the release of the FY2025 interim results on
12 December 2025 are continuing and the Company confirms that the estimated release date for the FY2025
financial results remains as previously communicated.
Publication of the FY2026 interim results
Following the publication of the FY2025 financial results, the Company's next priority would be to release the
interim financial results for the six months ended 30 September 2025 ("FY2026 interim results") as soon as
reasonably possible. It is estimated that the FY2026 interim results will be published no later than 30 April
2026.
The aforementioned publication target dates and progress are intended to place the Company in a position to
publish its audited financial results for the year ended 31 March 2026 ("FY2026 financial results") within the
prescribed period, subject to the timely completion of the remaining reporting processes and associated
reviews.
The Company remains committed to compliance with the JSE Listings Requirements and will provide further
updates as required.
Expected date for lifting of the Suspension
In the 28 November 2025 Report, shareholders were advised that the Board's best estimate at the time for the
lifting of the Suspension was on or around early April 2026. In light of the planned timing for the publication of
the FY2026 interim results (being no later than 30 April 2026) and the administrative and regulatory processes
associated with a lifting of a suspension, the Board currently estimates that the Company will be in a position
to request the JSE to lift the Suspension from June 2026 onwards, subject to the JSE's confirmation that the
grounds for the Suspension have been satisfactorily remedied and that all applicable requirements have been
met.
Johannesburg
27 February 2026
Sponsor
Merchantec Capital
Date: 27-02-2026 10:15:00
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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.
