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Acquisition Of A 20% Equity Interest In Mondau, Lda
LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
("Labat Africa" or "the Company")
ISIN Code: ZAE000018354 Share Code: LAB
FSE Code: LEI 9845000R73DF5EE41J88
ACQUISITION OF A 20% EQUITY INTEREST IN MONDAU, LDA
Shareholders are advised that Labat has entered into a memorandum of agreement
("MOA") with Mondau, LDA, a private company incorporated in Mozambique ("Mondau"),
in terms of which Labat will acquire a 20% equity interest in Mondau by way of an acquisition
of shares for cash.
Background of Mondau
Mondau operates in the artificial intelligence ("AI") and advanced computing sector, with
a focus on generative AI platforms, GPU infrastructure, AI-driven security solutions and digital
transformation technologies across Africa. Mondau's core areas of expertise include
industrial AI applications, leveraging machine learning to optimise manufacturing
processes, as well as environmental and data-driven solutions supporting agriculture and
sustainability initiatives.
Rationale for Acquisition
Venturing upstream is a natural progression for Labat as it is in line with the company ethos
of evolving into a holistic ITC AI provider. The acquisition will allow Labat to provide
complete vertical integration into the highly lucrative AI space.
The acquisition will also be a stepping stone towards being a provider into the AI secured
dollar cashless transactions totally over UAS 1.1 trillion USD per annum in 2024. Sub Saharan
Africa is the world's largest market for mobile money accounting for circa 70 % of the global
mobile money transaction value.
The investment further provides Labat Africa with exposure to hard currency revenue
streams and positions the Company to participate in the growing AI-enabled digital and
mobile transaction ecosystem in Africa, particularly in sub-Saharan Africa, which represents
a significant portion of global mobile money transaction value. Labat will have an income
stream from the acquisition in USD.
Salient Terms of the Transaction
• Labat will acquire 20% of the issued equity shares of Mondau
• Cash consideration of R30 million
• On the effective date of the 1 March 2026 upon Conditions precedent being met,
Labat will pay R30 million to Mondau as the consideration for the equity interest
acquired.
• Mondau has delivered a Pre-tax profit of USD 8 million for the financial year end
2024/25
Conditions Precedent
• JSE approval (to the extent required)
• Any other regulatory requirement (to the extent that it is required).
• The fulfilment of customary conditions precedent as set out in the MOA, which
includes the provision of audited and management financial information by Mondau
for the year end June 2025 and 31 January 2026, respectively and the profit forecast
for the periods ending 31January 2026 to 1 February 2029.
Categorisation of the Transaction
Mondau has a net asset value (NAV) of R150 million.
Based on Labat Africa's current market capitalisation, the Acquisition constitutes a
Category 2 transaction in terms of the JSE Listings Requirements and accordingly does not
require shareholder approval.
Further announcements will be made in due course, if required.
By order of the Board
Labat Africa Limited
JOHANNESBURG
4 March 2026
JSE Sponsor
Vunani Sponsors
Date: 04-03-2026 12:53:00
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