BAW BAWP BAW29 BAW31 BAW21 BAW34 BAW33 BC127 BAW30 BAW22 BAW28 Detailed cautionary regarding Barloworlds proposed disposal of an effective 50% of its motor retail division Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Income Tax Registration number 9000/051/71/5) (Share code: BAW) (JSE ISIN: ZAE000026639) (Share code: BAWP) (Bond issuer code: BIBAW) (JSE ISIN: ZAE000026647) (Namibian Stock Exchange share code: BWL) ("Barloworld or the Company" or the Barloworld Group) DETAILED CAUTIONARY ANNOUNCEMENT REGARDING BARLOWORLDS PROPOSED DISPOSAL OF AN EFFECTIVE 50% OF ITS MOTOR RETAIL DIVISION Shareholders are referred to the announcements released by Barloworld on SENS on 30 June 2020 and 30 November 2020 relating to the release of the Companys interim and final results for the six months ended 31 March 2020 and year ended 30 September 2020, respectively (Results Announcements). The Results Announcements noted that with regards to the dealership portfolio housed within the Automotive and Logistics division, looking forward, the assessment of the long-term fundamentals of our businesses is a focus area in our ongoing portfolio review, including the review of the dealership portfolio and options around the optimal deployment of capital in Motor Retail remain under due consideration. Given the above strategy articulated in the Results Announcements, Barloworld shareholders are hereby advised that Barloworld South Africa Proprietary Limited, a wholly-owned subsidiary of Barloworld, has entered into discussions with NMI Durban South Motors Proprietary Limited (NMI-DSM), a joint venture of the Barloworld Group in which Barloworld holds a 50% interest alongside the Akoo family (JV Partners), to dispose of the Barloworld Groups motor retail business as a going concern. These discussions are gaining momentum, and subject to Board approval, are expected to be concluded in the next few months, following which a detailed terms announcement will be published. As Barloworld has entered into negotiations which may have a material effect on the price of the Companys securities, shareholders are advised to exercise caution when dealing in these securities until a further announcement is made. Johannesburg 9 December 2020 Equity and Debt Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 09-12-2020 07:05:00 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.
09 Dec 2020