25 Aug - 2 min read

Cautionary announcement – Ecommerce Update

Cautionary announcement – Ecommerce Update

Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/06)
Share Code: MSM
ISIN: ZAE000152617
(“Massmart” of the “Company”)


CAUTIONARY ANNOUNCEMENT – ECOMMERCE UPDATE

Shareholders are advised that the Company has entered into negotiations, which if successfully
concluded, may result in the acquisition of a controlling stake in OneCart Pty Ltd (“OneCart”). OneCart is
a fast moving consumer goods market place and logistics platform that partners with leading retailers in
South Africa to enable fast, flexible and efficient online sales and home delivery to consumers across the
country. The platform provides access to products across the dry grocery, frozen and fresh foods, liquor,
baby, health and beauty, household and pet supplies categories, all made available to consumers via a
single shopping interface.

In keeping with the Company’s strategy to invest in and accelerate its eCommerce presence, this potential
acquisition will allow the Company to further expand its capabilities in the fast growing on-demand
delivery segment, while continuing to support the independent retailer marketplace model of OneCart.
Massmart is currently in the process of negotiating and finalizing transaction documentation. Negotiations
are at an advanced stage and Massmart is hopeful to conclude discussions in the coming weeks pending
finalisation of a few key matters.

Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until
a further announcement is made.


Johannesburg
25 August 2021

Financial Adviser and Transaction Sponsor: Absa Bank Limited
Sponsor: JP Morgan Equities South Africa (Pty) Ltd

Date: 25-08-2021 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.
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from Massmart Holdings Limited (JSE:MSM) when you join Listcorp.