JSE Sens

MR PRICE GROUP LIMITED - Clarity on intention of equity raise

2020/05/28 12:59:05

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                    Clarity on intention of equity raise: 
Clarity on intention of equity raise

Mr Price Group Limited
(Registration number 1933/004418/06)
Incorporated in the Republic of South Africa
ISIN: ZAE000200457
LEI number: 378900D3417C35C5D733
JSE and A2X share code: MRP
(“Mr Price Group” “the company” or “the Group”)

CLARITY ON INTENTION OF EQUITY RAISE

As a follow up to provide clarity on the Group’s circular and SENS announcement of 20 May 2020 regarding a general
meeting for authority to affect a specific issue of shares of up to 10% of the Group’s issued ordinary share capital (“Equity
Raise”), the Group advises as follows.

The purpose of the Equity Raise is to ask shareholders to lend support to fund long-term growth in anticipation of value
accretive assets at attractive valuations becoming available in the current economic environment; as well as for organic
growth of the existing business and new concepts.

There has been speculation in the market that the Group is pursuing local clothing retail chain “Jet”, a division of Edcon
Limited (“Edcon”) as a potential acquisition target. The Company wishes to address this speculation and advises that
the Group has no intention to acquire Edcon, in part or in whole. The Company’s criteria for a potential acquisition is
clear, consistent and demonstratable in its capital allocation track record, which has over time been communicated
extensively to shareholders.

The Group’s current cash resources and debt free balance sheet provide adequate support for existing business
operations, including potential future disruptions in the medium term as a result of the COVID-19 pandemic.



Durban
28 May 2020

Transaction sponsor
Investec Bank Limited

Date: 28-05-2020 12:59:00
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