Gen - General - Removal of Listing Announcement - UAT

Gen - General - Removal of Listing Announcement

Union Atlantic Minerals Limited (the “Issuer”)
ISIN: ZAE000254314
Share code: UAT

The Issuer has a primary listing on the Main Board of the Johannesburg Stock Exchange (“JSE”). On 23
September 2014 the board of the Issuer requested the JSE to suspend its trading following a
determination that it was financially distressed, had effectively ceased to do business and could no
longer meet its obligations. The JSE agreed to suspend the trade in the Company’s shares with
immediate effect (23 September 2014) pursuant to paragraph 1.10(c) (previously paragraph 1.9(c)) of
the JSE Listings Requirements (the “Requirements”).

In terms of paragraph 1.8 of the Requirements, “If a listing is suspended and the affected applicant
issuer fails to take adequate action to enable the JSE to reinstate the listing within a reasonable period
of time, the JSE may remove the listing in accordance with the procedure set out below”.

Based on the failure of the Issuer to comply with important provisions of the Requirements since its
suspension on 23 September 2014, including its failure to prepare and publish financial information
and not making meaningful progress to allow the JSE to reinstate the listing, the JSE advised the Issuer
that it is considering the removal of the Issuer’s listing at the instance of the JSE pursuant to section
12(2) of the Financial Markets Act no. 19 of 2012 and sections 1.12 and 1.13 of the Requirements.

The JSE provided the Issuer with an opportunity to make written representations as to why the
removal of the Issuer should not be effected. After careful consideration of the representations by the
Issuer, the JSE informed the Issuer that it has decided to remove the Issuer’s listing (“the Removal
Decision”) and advised the Issuer of its right to appeal the decision in terms of paragraph 1.5 of the
Requirements (the “appeal”). The JSE convened the Issuer Regulation Appeal Committee (“the Appeal
Committee”) to reconsider the Removal Decision and the Issuer’s grounds of appeal against the
Removal Decision.

The Appeal Committee carefully considered the Issuer’s appeal and all the applicable facts and
information and unanimously decided to dismiss the Issuer’s appeal against the Removal Decision.
Shareholders are advised that the Issuer’s listing will be removed from the commencement of business
on Monday, 28 August 2023 and that they will remain shareholders in an unlisted company.
Accordingly, the last day to trade (off-market) will be Tuesday, 22 August 2023 and the record date
will be Friday, 25 August 2023.

22 August 2023

Date: 22-08-2023 04:00:00
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