17 Jun - 2 min read

Renewal of cautionary announcement

Renewal of cautionary announcement

Incorporated in the Republic of South Africa
(Registration number: 1998/015580/06)
Share code: SCP     ISIN: ZAE000198586
("Stellar Capital" or the "Company")


Shareholders are referred to the renewal of cautionary
announcement released on the Stock Exchange News Service on 5
May 2021 and are advised that the Stellar Capital Board
continues to evaluate the following remaining strategic
proposals, after finalising and implementing the Manco
Internalisation in April 2021:

  1)   addressing the empowerment status of the Company and its
       investee businesses;
  2)   evaluating Stellar Capital’s continued JSE listing;
  3)   assessing the optimal deployment of available cash
       resources in line with the current, or a renewed,
       strategic direction; and
  4)   considering other alternatives which would assist in the
       narrowing of the discount between the reported NAV per
       share and the share price of the Company.

The advancement of any, or a combination, of the above
remaining proposals may have a material effect on the price of
Stellar Capital’s securities and, accordingly, shareholders
are advised to continue to exercise caution when dealing in
Stellar Capital’s securities until either a further
announcement is made or this cautionary announcement is

Cape Town
17 June 2021

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 17-06-2021 09:30:00
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