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Detailed Cautionary Announcement Relating to the Proposed Disposal of Blue Ridge Platinum (Pty) Ltd
MANTENGU LIMITED
(formerly Mantengu Mining Limited)
Incorporated in the Republic of South Africa
(Registration number 1987/004821/06)
Share code: MTU ISIN: ZAE000320347
("Mantengu" or "the Company")
DETAILED CAUTIONARY ANNOUNCEMENT RELATING TO THE PROPOSED DISPOSAL OF
BLUE RIDGE PLATINUM (PTY) LTD
In compliance with paragraph 8.14 of the JSE Listings Requirements, the Board of Directors of the
Company (the "Board") wishes to announce that, pursuant to receiving an offer from Afresources
Mining (Pty) Ltd ("Afresources"), it has entered into advanced negotiations to dispose to Afresources
the Company's entire shareholding and claims in Blue Ridge Platinum (Pty) Ltd. ("Blue Ridge")(the
"Proposed Transaction").
Afresources is a diversified mining group owned and controlled by Gani Bros Equity Pty Ltd, which is
in turn owned and controlled by various trusts and entities associated with and controlled by the
Gani family. Afresources is not a related party to Mantengu.
Proposed Transaction and Categorisation
The Proposed Transaction consists of the disposal by Mantengu and the Blue Ridge minorities of their
70% and 30% shareholdings and claims respectively in Blue Ridge for a cash purchase consideration
of R50 million. The further terms and final metrics of the Proposed Transaction will be subject to
completion of a due diligence as well as the conclusion of legal agreements and will be announced
in due course.
The Transaction is classified as a Category 2 transaction in accordance with the JSE Listings
Requirements.
Conclusion
The Board is supportive of the proposed disposal of Blue Ridge because it has taken the decision to
streamline its investment portfolio in anticipation of completing the Averi Finance transaction, as
announced on SENS on 20 May 2026, later this calendar year.
The Board will keep shareholders updated on material developments in respect of the proposed
disposal.
New Cautionary Announcement
Shareholders are advised that the above Proposed Transaction, if successfully concluded, may have
a material effect on the price of the Company's securities. The Company remains under cautionary
for the Averi Finance transaction as previously announced. Accordingly, shareholders are advised
to exercise caution when dealing in their securities until a further announcement is made.
By Order of the Board
12 June 2026
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 12-06-2026 03:35:00
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