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Voluntary Sens Announcement - Share Repurchase Programme
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
VOLUNTARY SENS ANNOUNCEMENT - SHARE REPURCHASE PROGRAMME
Shareholders are advised that the board of directors of Labat Africa Ltd (the "Board") has
approved a general share repurchase of the Company's ordinary shares up to a
maximum of 20% of the Company's issued share capital.
The Board believes that the current cash position of the Company and its subsidiaries is
sufficiently robust to undertake the Share Repurchase. The Share Repurchase is being
undertaken as part of Labat's broader capital allocation strategy and specifically in light
of the price performance in the Company's shares, which in the Board's view, continues to
undervalue the Company and its prospects.
The Share Repurchase will commence on 16 February 2026 and will extend until 31 May
2026, subject to market conditions, in which event the programme may be discontinued
by the Board. The shares repurchased as part of the Share Repurchase will be held as
treasury shares and will not have any voting rights.
The Share Repurchase will be effected within certain pre-set parameters and in
accordance with both the Company's general authority to repurchase shares granted by
special resolution of the Company's shareholders passed at the Company's annual
general meeting held on 2 December 2025 and the JSE Listings Requirements.
Rationale
The Board notes that the Company's shares are currently trading at a significant discount
to the Group's most recently reported net asset value of approximately 23 cents per
share. The Board further acknowledges that there have been substantial sellers in the
market in recent months, which has contributed to sustained downward pressure on the
share price. In the Board's view, the prevailing market price does not reflect the intrinsic
value of the Company's underlying assets, strategic positioning and long-term growth
prospects.
The repurchase programme reflects the Board's strong conviction in the Company's
fundamentals and its disciplined approach to capital allocation. The Board considers the
repurchase of shares at current levels to represent an efficient deployment of capital that
is expected to enhance earnings per share, net asset value per share and long-term
shareholder returns.
The programme further demonstrates management's confidence in the sustainability of
the Group's operations, balance sheet strength and growth strategy.
The Company remains firmly focused on unlocking and delivering sustainable long-term
value for its shareholders.
By order of the Board
JOHANNESBURG
12 FEBRUARY 2026
JSE Sponsor
Vunani Sponsors
Date: 12-02-2026 02:17:00
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