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Tharisa - EGM results
Tharisa advised the result of voting at the Extraordinary General Meeting of bondholders of Karo Mining Holdings plc ('the Issuer'), a subsidiary of Tharisa, held on 7 November 2025.
At the Extraordinary General Meeting the following resolutions were approved by the requisite majority, with effect from the maturity date of the existing bonds, being 1 December 2025:
1. Extending the maturity date of the existing notes ('Notes') by an additional three years to 1 December 2028
2. Adjusting the interest rate on the Notes from 9.5% to 11.0% per annum
3. Amending the early redemption terms such that in the case of early redemption, the Issuer will redeem in whole (but not in part) the Note(s) specified in such notice, together with interest accrued and unpaid thereon, if any, to the date fixed for early redemption and shall not have any obligation to pay interest that would otherwise be payable until the final redemption date and
4. Introducing a guarantee fee such that with effect from 1 December 2025 until 1 December 2028, the Issuer shall pay to the guarantor (being Tharisa), a guarantee fee of 2.6% (two point six percent) per annum.
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