Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 57

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 3
Chunk 57
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 market price of the ordinary shares and the ability to realize any benefit from a potential change
of control.

Risks Relating to Our Ordinary Shares

Our stock price may fluctuate and you could lose all
or a significant part of your investment.

The market price of our ordinary shares may be influenced
by many factors, some of which are beyond our control, including:

  actual or anticipated variations in our operating results;  

  the failure of financial analysts to cover our ordinary shares;  

  changes in financial estimates by financial analysts, or                                                                               

  changes in market valuations of similar companies;  
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  announcements by us or our competitors of significant contracts,  

  future sales of our shares by us or our shareholders;  

  short sales, hedging and other derivative transactions involving              

  investor perceptions of us and the industry in which we operate;  

  general economic, industry or market conditions; and  

  the other factors described in this “ Risk Factors”  

In addition, the stock market
in general has experienced substantial price and volume fluctuations that have often been unrelated or disproportionate to the operating
performance of the particular companies affected. These broad market and industry factors may materially harm the market price of our
ordinary shares, regardless of our operating performance. In the past, following periods of volatility in the market price of certain
companies’ securities, securities class action litigation has been instituted against these companies. This type of litigation,
if instituted against us, could have a material adverse effect on our business, financial condition and results of operations.

The ordinary shares are traded on more than one stock
exchange and this may result in price variations between the markets.

The ordinary shares are listed
on each of the Nasdaq and the JSE. Trading in the ordinary shares therefore will take place in different currencies (U. S. dollars on the
Nasdaq and South African Rand on the JSE), and at different times (resulting from different time zones, different trading days and different
public holidays in the United States and South Africa). The trading prices of the ordinary shares on these two markets may differ as a
result of these, or other, factors. Any decrease in the price of ordinary shares on either one of these markets could cause a decrease
in the trading prices of ordinary shares on the other market.

Sales of substantial amounts
of our ordinary shares in the public market, or the perception that these sales may occur, could cause the market price of our ordinary