Brait SE

(Registered in Malta as a European Company)

(Registration No. SE1)

Share code: BAT ISIN: LU0011857645

Bond Code: WKN: A2SBSU ISIN: XS2088760157

("Brait" or the "Company")

2024 CONVERTIBLE BOND CONVERSION PRICE ADJUSTMENT

  • 150,000,000 6.5% CONVERTIBLE BONDS DUE 2024 ("2024 BONDS") CONVERSION PRICE ADJUSTMENT

Capitalised terms not otherwise defined in this notice shall have the meaning given to them in the terms and conditions of the 2024 Bonds (the "Conditions").

Brait shareholders are referred to the announcement released on the Stock Exchange News Service of the Johannesburg Stock Exchange and published on the website of the Luxembourg Stock Exchange on 21 January 2020 relating to the fully committed and underwritten, renounceable rights offer.

As a result of the issue of up to 795,454,545 new, fully paid ordinary shares as a result of conferring renounceable rights on a pre-emptive basis to qualifying shareholders of record on 31 January 2020 and in respect of which the Ordinary Shares will go ex-rights on 29 January 2020, pursuant to Condition 6(b)(iv) and 6(g) of the Conditions, the Conversion Price of the 2024 Bonds is adjusted from £ 0.9375 to £ 0.6569, effective 29 January 2020

San Gwann, Malta

30 January 2020

Brait´s primary listing is on the Euro MTF market of the Luxembourg Stock Exchange and its secondary listing is on the exchange operated by the JSE Limited.

Sponsor to Brait:

Rand Merchant Bank, a division of FirstRand Bank Limited

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Brait SE published this content on 31 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2020 11:39:06 UTC