Kgatelopele Lime Proprietary Limited completed the acquisition of PPC Lime Limited from PPC Ltd.

Kgatelopele Lime Proprietary Limited agreed to acquire PPC Lime Limited from PPC Ltd (JSE:PPC) for approximately ZAR 520 million on May 3, 2021. Post completion of transaction, PPC Lime is expected to be 39% black-owned, being 29% owned by strategic BEE investors, 5% owned by relevant PPC Lime employees and 5% owned by host communities of PPC Lime The transaction is subject to approval by Department of Mineral Resources and Energy and the Competition Commission. Transaction is expected to reach a close by the end of this year. The net proceeds of ZAR 500 million will be used to de-gear PPC's South African balance sheet. As of September 17, 2021, the last of the Divestment Conditions was met and all the conditions were satisfied. Instinctif Partners Limited acted as financial advisor to PPC Ltd. Instinctif Partners Limited acted as financial advisor to PPC Ltd. Instinctif Partners Limited acted as financial advisor to PPC Ltd.

Kgatelopele Lime Proprietary Limited completed the acquisition of PPC Lime Limited from PPC Ltd (JSE:PPC) on September 30, 2021.