EPE Capital Partners Ltd agreed to Spin-Off 9.77% stake in Brait PLC (JSE:BAT) for ZAR 120 million on June 24, 2024. The Brait Unbundling will be implemented as a capital distribution in specie to Ethos Capital shareholders of, Brait ordinary shares, and will result in Ethos Capital shareholders receiving: 0.50857 Brait ordinary shares, for every 1 Ethos Capital A ordinary share. Record date for Ethos Capital shareholders to be recorded in the register in order to receive Brait ordinary shares expected on July 12, 2024.

The distribution is subject to inter alia obtaining the requisite exchange control approval from the South African Reserve Bank. The distribution is expected to close on July 15, 2024.