# EDGAR Filing Document

**Accession Number:** 0002077888
**File Stem:** 0001829126-25-006527
**Filing Date:** 2025-8
**Character Count:** 60742
**Document Hash:** f26d75851c916f0ee74d909bbab38830
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-25-006527.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0001829126-25-006527

**CONFORMED SUBMISSION TYPE**: CB/A

**PUBLIC DOCUMENT COUNT**: 36

**FILED AS OF DATE**: 20250820

**DATE AS OF CHANGE**: 20250820

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PK Investments Ltd
- **CENTRAL INDEX KEY:** 0002077888

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** Y8
- **FISCAL YEAR END:** 0630
- **LEGAL ENTITY IDENTIFIER:** 2138006R6TVTS1Y3MR25

**FILING VALUES:**
- **FORM TYPE:** CB/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95142
- **FILM NUMBER:** 251233723

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** EXCHANGE HOUSE
- **STREET 2:** 54-62 ATHOL STREET
- **CITY:** DOUGLAS
- **PROVINCE COUNTRY:** Y8
- **ZIP:** IM1 1JD
- **BUSINESS PHONE:** 44 7624461949

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** EXCHANGE HOUSE
- **STREET 2:** 54-62 ATHOL STREET
- **CITY:** DOUGLAS
- **PROVINCE COUNTRY:** Y8
- **ZIP:** IM1 1JD
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PK Investments Ltd
- **CENTRAL INDEX KEY:** 0002077888

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** Y8
- **FISCAL YEAR END:** 0630
- **LEGAL ENTITY IDENTIFIER:** 2138006R6TVTS1Y3MR25

**FILING VALUES:**
- **FORM TYPE:** CB/A

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** EXCHANGE HOUSE
- **STREET 2:** 54-62 ATHOL STREET
- **CITY:** DOUGLAS
- **PROVINCE COUNTRY:** Y8
- **ZIP:** IM1 1JD
- **BUSINESS PHONE:** 44 7624461949

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** EXCHANGE HOUSE
- **STREET 2:** 54-62 ATHOL STREET
- **CITY:** DOUGLAS
- **PROVINCE COUNTRY:** Y8
- **ZIP:** IM1 1JD

---

| | | |
|:---|:---|:---|
|  | OMB APPROVAL | OMB APPROVAL |
| **UNITED STATES**<br> **SECURITIES AND EXCHANGE COMMISSION**<br> **Washington, D.C. 20549** | OMB Number: | 3235-0518 |
| **UNITED STATES**<br> **SECURITIES AND EXCHANGE COMMISSION**<br> **Washington, D.C. 20549** | Expires: | January 31, 2027 |
| **UNITED STATES**<br> **SECURITIES AND EXCHANGE COMMISSION**<br> **Washington, D.C. 20549** | Estimated average burden hours per response............... | 0.5 |

---

**Form CB/A**

**TENDER OFFER NOTIFICATION FORM**

**(Amendment No. 1)**

Please place an X in the box(es) to designate the appropriate rule provision(s) relied upon to file this Form:

---

| | |
|:---|:---|
| Securities Act Rule 801 (Rights Offering) | ☐ |
| Securities Act Rule 802 (Exchange Offer) | ☒ |
| Exchange Act Rule 13e-4(h)(8) (Issuer Tender Offer) | ☐ |
| Exchange Act Rule 14d-1(c) (Third Party Tender Offer) | ☒ |
| Exchange Act Rule 14e-2(d) (Subject Company Response) | ☐ |

---

MAS P.L.C.

(Name of Subject Company)

N/A

(Translation of Subject Company's Name into English (if applicable))

Malta

(Jurisdiction of Subject Company's Incorporation or Organization)

PK Investments Limited

(Name of Person(s) Furnishing Form)

Ordinary shares in the issued share capital of MAS P.L.C.

(Title of Class of Subject Securities)

N/A

(CUSIP Number of Class of Securities (if applicable))

Computershare Investor Services Proprietary Limited (Email: corporate.events@computershare.co.za Tel: +27 11 370 5000

(Name, Address (including zip code) and Telephone Number (including area code) of<br> Person(s) Authorized to Receive Notices and Communications on Behalf of Subject Company)

4 August 2025

(Date Tender Offer/Rights Offering Commenced)

**PART I - INFORMATION SENT TO SECURITY HOLDERS**

**Item 1. Home Jurisdiction Documents**

The following documents are attached hereto as exhibits to this form:

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [The Voluntary Bid Circular to MAS Shareholders<sup>1</sup>](https://www.sec.gov/Archives/edgar/data/2077888/000182912625005755/pkinvestment_ex99-1.htm) |
| 99.2 | [The Prospectus<sup>1</sup>](https://www.sec.gov/Archives/edgar/data/2077888/000182912625005755/pkinvestment_ex99-2.htm) |
| 99.3 | [The Programme Memorandum for the ZAR 20,000,000,000 Preferred Share Programme<sup>1</sup>](https://www.sec.gov/Archives/edgar/data/2077888/000182912625005755/pkinvestment_ex99-3.htm) |
| 99.4 | [The Programme Memorandum for the EUR1,000,000,000 Preferred Share Programme<sup>1</sup>](https://www.sec.gov/Archives/edgar/data/2077888/000182912625005755/pkinvestment_ex99-4.htm) |
| 99.5 | [Announcement - Approval of South African Reserve Bank for the listing of the Consideration Instruments](pkinvest_ex99-5.htm) |
| 99.6 | [Announcement - Waiver of the minimum cash acceptance condition](pkinvest_ex99-6.htm) |
| 99.7 | [Announcement – Notice of cash consideration currency exchange rate](pkinvest_ex99-7.htm) |
| 99.8 | [Announcement – Increase in maximum cash consideration under the Voluntary Bid](pkinvest_ex99-8.htm) |
| 99.9 | [Results Announcement](pkinvest_ex99-9.htm) |

---

(1) Previously furnished with the Form CB submitted to the Securities
and Exchange Commission on August 4, 2025.

**Item 2. Informational Legends**

The required legend is prominently included in the document(s) referred to in Item 1, where applicable.

**PART II - INFORMATION NOT REQUIRED TO BE SENT TO SECURITY HOLDERS**

N/A

**PART III - CONSENT TO SERVICE OF PROCESS**

&nbsp;&nbsp;&nbsp;&nbsp;(1) PK Investments Limited submitted to the Securities and Exchange Commission a written irrevocable consent and power of attorney on Form F-X on August 4, 2025.

**PART IV - SIGNATURES**

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Signature: /s/ Timothy Mark Callister

(Signature)

Timothy Mark Callister - Director

(Name and Title)

19 August 2025

(Date)

## Exhibit 99.5

**Exhibit 99.5**

---

| | |
|:---|:---|
| **PK Investments Limited**<br> (Incorporated in the Isle of Man)<br> (Registration number 014469V)<br> (**"PKI"** or "**the Offeror**") | ![](ex99-5_001.jpg) |

---

**PKI RECEIVES SARB APPROVAL FOR CONSIDERATION INSTRUMENTS TO BE LISTED ON CTSE**

**NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.**

***Unless the contexts indicate otherwise, all capitalised terms used but not defined in this announcement shall bear the meanings ascribed to them in the Circular (as defined below).***

MAS Shareholders are referred to the announcement published by PKI on SENS on 4 August (the "**PKI SENS Announcement**") and the accompanying voluntary bid circular published by PKI on the same date (the "**Circular**").

PKI is pleased to announce that the South African Reserve Bank has granted approval for the inward listing of the Consideration Instruments (Listed). The Consideration Instruments (Listed) will be listed on the CTSE, and issued on the relevant Consideration Instruments Settlement Date which will coincide with the relevant Cash Settlement Date, as set out in the Timetable. In addition, following the receipt of SARB Approval, no Consideration Instruments (Unlisted) will be issued and only Consideration Instruments (Listed) will be issued to MAS Shareholders electing to receive Consideration Instruments (Listed) in respect of all or some of their MAS Shares.

**It is important to emphasise that, as set out in the Circular, if a MAS Shareholder elects to receive only the Cash Consideration, there will be no automatic allocation of Consideration Instruments (Listed) in the event of a scale back of Cash Consideration. As emphasised in the Circular, if the Cash Consideration is oversubscribed and the total Cash Acceptances exceed the Maximum Cash Amount, the relevant MAS Shareholder will retain their existing MAS Shares in respect of the portion not acquired by PKI, unless such MAS Shareholder elects to receive Consideration Instruments (Listed).**

This key milestone is an important step in fulfilling PKI's commitment to providing MAS Shareholders with compelling flexibility in their decision-making. It greatly simplifies the offer and the election process for MAS Shareholders.

PSG Capital, corporate advisor to PKI, said, "This approval for listing ensures shareholders electing preference shares will get transparency and liquidity through the CTSE platform. On behalf of PKI, we have been engaging with MAS shareholders, and the interest in the preference shares option has been steadily increasing. We are also very pleased with the growing momentum for the cash offer."

MAS Shareholders are provided the flexibility to elect the Cash Consideration only for their MAS Shares, Consideration Instruments (Listed) only, or a combination of Cash Consideration and Consideration Instruments (Listed). Under no circumstances are shareholders forced to accept the Consideration Instruments (Listed).

MAS Shareholders have until 12:00 PM on 14 August 2025, to accept PKI's voluntary offer.

7 August 2025

---

| | |
|:---|:---|
| South African Legal Advisor to PKI in respect of<br> the Voluntary Bid | Transaction Sponsor to PKI in respect of the Voluntary Bid<br> and Transaction Advisor and Transaction Sponsor in<br> respect of the listing of the Consideration Instruments |
| ![](ex99-5_002.jpg) | ![](ex99-5_003.jpg) |
| Malta Legal Advisor to PKI in respect of the<br> Voluntary Bid | South African Legal Advisor to PKI in respect of the issue<br> and listing of the Consideration Instruments |
| ![](ex99-5_004.jpg) | ![](ex99-5_005.jpg) |
| Isle of Man Legal Advisor to PKI in respect of the Voluntary Bid<br> and the issue and listing of the Consideration Instruments |  |
| ![](ex99-5_006.jpg) |  |

---

**Important notes:**

This announcement is not an offer. This announcement does not constitute a prospectus as contemplated in the South African Companies Act, 2008 or a prospectus-equivalent document. Any decision in relation to the Voluntary Bid should be made only on the basis of the information in the Circular and the other Transaction Documents (as such term has been defined in the PKI SENS Announcement).

The release, publication or distribution of the Transaction Documents in jurisdictions other than South Africa may be restricted by law and therefore persons who are subject to the laws of any jurisdiction other than South Africa into which the Transaction Documents are released, published or distributed should inform themselves about and observe any such restrictions. No action has been taken or will be taken to permit the possession or distribution of the Transaction Documents (or any other offering or publicity materials relating to the Voluntary Bid) in any jurisdiction where action for that purpose may be required or doing so is restricted or prohibited by law. Accordingly, neither the Transaction Documents, nor any advertisement, nor any other offering material, may be distributed or published except under circumstances that will comply with any applicable laws and regulations. Persons into whose possession the Transaction Documents come should inform themselves about and observe any such restrictions (including, without limitation, those described in further detail in the Transaction Documents in relation to persons situated in the United States, the European Economic Area, the United Kingdom, Switzerland, Australia and Namibia). Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable laws, PKI disclaims any responsibility or liability for the violation of such requirements by any person.

It is the responsibility of the person (including, without limitation, nominees, agents and trustees for such person) wishing to receive the Transaction Documents and/or subscribe for Consideration Instruments or otherwise participate in the Voluntary Bid to satisfy themselves as to the full observance of the applicable laws of any relevant territory, including obtaining any requisite governmental or other consents, observing any other requirements or formalities and paying any issue, transfer or other taxes due in such territories. Any MAS Shareholder who is in doubt about their position, including and without limitation their tax status, should consult an appropriate professional advisor in the relevant jurisdiction without delay.

The information contained in the Transaction Documents constitutes factual information as contemplated in section 1(3)(a) of the South African Financial Advisory and Intermediary Services Act, No. 37 of 2002, as amended, and should not be construed as an express or implied recommendation, guide or proposal that the Voluntary Bid, or the present or future business or investments of MAS is appropriate to the particular investment objectives, financial situations or needs of any MAS Shareholder or prospective investor, and nothing in the Transaction Documents should be construed as constituting the canvassing for, or marketing or advertising of, financial services in South Africa.

**Forward-looking statements**

The Transaction Documents contain statements about PKI or MAS that are, or may be, forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements, including, without limitation, those concerning: strategy; the economic outlook for the industry; production; cash costs and other operating results; growth prospects and outlook for operations, individually or in the aggregate; liquidity and capital resources and expenditure and the outcome and consequences of any pending litigation proceedings. These forward-looking statements are not based on historical facts, but rather reflect current expectations concerning future results and events and generally may be identified by the use of forward-looking words or phrases such as "believe", "aim", "expect", "anticipate", "intend", "foresee", "forecast", "likely", "should", "planned", "may", "estimated", "potential" or similar words and phrases.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by forward-looking statements as well as expectations based on existing disclosures regarding current or historical events and conditions. In addition to the information regarding these risks, uncertainties, assumptions and other factors set forth in the Transaction Documents, important risk factors that may cause such a difference, and which should be considered in connection with a decision to participate in the Voluntary Bid. PKI cautions that forward-looking statements are not guarantees of future performance.

Actual results, financial and operating conditions, liquidity and the developments within the industry in which PKI operates may differ materially from those made in, or suggested by, the forward-looking statements contained in the Transaction Documents. All these forward-looking statements about PKI are based on estimates and assumptions regarding PKI, as made by PKI, and although PKI believes them to be reasonable, are inherently uncertain. Such estimates, assumptions or statements may not eventuate. Factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in those statements or assumptions include other matters not yet known to PKI or not currently considered material by PKI.

MAS Shareholders should keep in mind that any forward-looking statement made in the Transaction Documents or elsewhere is applicable only at the date on which such forward-looking statement is made. New factors that could cause the business of PKI not to develop as expected may emerge from time to time and it is not possible to predict all of them. Further, the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statement are not known. PKI has no duty to, and does not intend to, update or revise the forward-looking statements contained in the Transaction Documents after the date of the Transaction Documents, except as may be required by law.

Any forward-looking statement has not been reviewed nor reported on by the external auditors.

**Foreign MAS Shareholders**

The Transaction Documents are governed by, and will be construed and implemented in accordance with, the laws of South Africa and will be subject to the exclusive jurisdiction of the South African courts. These South African laws may be different from the laws applicable in other jurisdictions. Certain MAS Shareholders who have a registered address in and/or who are nationals, citizens or residents of any country other than in South Africa ("**Applicable Jurisdiction**") may be prohibited from participating in the Voluntary Bid and/or acquiring Consideration Instruments and should consult and obtain advice from a professional advisor in the relevant Applicable Jurisdiction without delay.

No action has been taken by PKI or MAS to obtain any approval, authorisation or exemption to permit the issue of Consideration Instruments, or the possession or distribution of the Transaction Documents (or any other publicly available documents relating to the Voluntary Bid), in any jurisdiction other than South Africa.

## Exhibit 99.6

**Exhibit 99.6**

---

| | |
|:---|:---|
| **PK Investments Limited**<br> (Incorporated in the Isle of Man)<br> (Registration number 014469V)<br> (**"PKI"** or **"the Offeror"**) | ![](ex99-6_001.jpg) |

---

**WAIVER OF THE MINIMUM CASH ACCEPTANCE CONDITION**

**NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.**

***Unless the contexts indicate otherwise, all capitalised terms used but not defined in this announcement shall bear the meanings ascribed to them in the Circular (as defined below).***

MAS Shareholders are referred to the announcement published by PKI on SENS on 4 August 2025 (the "**PKI SENS Announcement**") and the accompanying voluntary bid circular published by PKI on the same date (the "**Circular**").

Further to requests from MAS Shareholders and in light of positive feedback received regarding the level of acceptances anticipated under the Voluntary Bid, PKI has agreed to waive the sole condition to the Voluntary Bid i.e. the Minimum Cash Acceptance Condition, and accordingly the Voluntary Bid is now unconditional.

11 August 2025

---

| | |
|:---|:---|
| South African Legal Advisor to PKI in respect of<br> the Voluntary Bid | Transaction Sponsor to PKI in respect of the Voluntary Bid<br> and Transaction Advisor and Transaction Sponsor in<br> respect of the listing of the Consideration Instruments |
| ![](ex99-6_002.jpg) | ![](ex99-6_003.jpg) |
| Malta Legal Advisor to PKI in respect of the<br> Voluntary Bid | South African Legal Advisor to PKI in respect of the issue<br> and listing of the Consideration Instruments |
| ![](ex99-6_004.jpg) | ![](ex99-6_005.jpg) |
| Isle of Man Legal Advisor to PKI in respect of the Voluntary Bid<br> and the issue and listing of the Consideration Instruments |  |
| ![](ex99-6_006.jpg) |  |

---

**Important notes:**

This announcement is not an offer. This announcement does not constitute a prospectus as contemplated in the South African Companies Act, 2008 or a prospectus-equivalent document. Any decision in relation to the Voluntary Bid should be made only on the basis of the information in the Circular and the other Transaction Documents (as such term has been defined in the PKI SENS Announcement).

The release, publication or distribution of the Transaction Documents in jurisdictions other than South Africa may be restricted by law and therefore persons who are subject to the laws of any jurisdiction other than South Africa into which the Transaction Documents are released, published or distributed should inform themselves about and observe any such restrictions. No action has been taken or will be taken to permit the possession or distribution of the Transaction Documents (or any other offering or publicity materials relating to the Voluntary Bid) in any jurisdiction where action for that purpose may be required or doing so is restricted or prohibited by law. Accordingly, neither the Transaction Documents, nor any advertisement, nor any other offering material, may be distributed or published except under circumstances that will comply with any applicable laws and regulations. Persons into whose possession the Transaction Documents come should inform themselves about and observe any such restrictions (including, without limitation, those described in further detail in the Transaction Documents in relation to persons situated in the United States, the European Economic Area, the United Kingdom, Switzerland, Australia and Namibia). Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable laws, PKI disclaims any responsibility or liability for the violation of such requirements by any person.

It is the responsibility of the person (including, without limitation, nominees, agents and trustees for such person) wishing to receive the Transaction Documents and/or subscribe for Consideration Instruments or otherwise participate in the Voluntary Bid to satisfy themselves as to the full observance of the applicable laws of any relevant territory, including obtaining any requisite governmental or other consents, observing any other requirements or formalities and paying any issue, transfer or other taxes due in such territories. Any MAS Shareholder who is in doubt about their position, including and without limitation their tax status, should consult an appropriate professional advisor in the relevant jurisdiction without delay.

The information contained in the Transaction Documents constitutes factual information as contemplated in section 1(3)(a) of the South African Financial Advisory and Intermediary Services Act, No. 37 of 2002, as amended, and should not be construed as an express or implied recommendation, guide or proposal that the Voluntary Bid, or the present or future business or investments of MAS is appropriate to the particular investment objectives, financial situations or needs of any MAS Shareholder or prospective investor, and nothing in the Transaction Documents should be construed as constituting the canvassing for, or marketing or advertising of, financial services in South Africa.

**Forward-looking statements**

The Transaction Documents contain statements about PKI or MAS that are, or may be, forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements, including, without limitation, those concerning: strategy; the economic outlook for the industry; production; cash costs and other operating results; growth prospects and outlook for operations, individually or in the aggregate; liquidity and capital resources and expenditure and the outcome and consequences of any pending litigation proceedings. These forward-looking statements are not based on historical facts, but rather reflect current expectations concerning future results and events and generally may be identified by the use of forward-looking words or phrases such as "believe", "aim", "expect", "anticipate", "intend", "foresee", "forecast", "likely", "should", "planned", "may", "estimated", "potential" or similar words and phrases.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by forward-looking statements as well as expectations based on existing disclosures regarding current or historical events and conditions. In addition to the information regarding these risks, uncertainties, assumptions and other factors set forth in the Transaction Documents, important risk factors that may cause such a difference, and which should be considered in connection with a decision to participate in the Voluntary Bid. PKI cautions that forward-looking statements are not guarantees of future performance.

Actual results, financial and operating conditions, liquidity and the developments within the industry in which PKI operates may differ materially from those made in, or suggested by, the forward-looking statements contained in the Transaction Documents. All these forward-looking statements about PKI are based on estimates and assumptions regarding PKI, as made by PKI, and although PKI believes them to be reasonable, are inherently uncertain. Such estimates, assumptions or statements may not eventuate. Factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in those statements or assumptions include other matters not yet known to PKI or not currently considered material by PKI.

MAS Shareholders should keep in mind that any forward-looking statement made in the Transaction Documents or elsewhere is applicable only at the date on which such forward-looking statement is made. New factors that could cause the business of PKI not to develop as expected may emerge from time to time and it is not possible to predict all of them. Further, the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statement are not known. PKI has no duty to, and does not intend to, update or revise the forward-looking statements contained in the Transaction Documents after the date of the Transaction Documents, except as may be required by law.

Any forward-looking statement has not been reviewed nor reported on by the external auditors.

**Foreign MAS Shareholders**

The Transaction Documents are governed by, and will be construed and implemented in accordance with, the laws of South Africa and will be subject to the exclusive jurisdiction of the South African courts. These South African laws may be different from the laws applicable in other jurisdictions. Certain MAS Shareholders who have a registered address in and/or who are nationals, citizens or residents of any country other than in South Africa ("**Applicable Jurisdiction**") may be prohibited from participating in the Voluntary Bid and/or acquiring Consideration Instruments and should consult and obtain advice from a professional advisor in the relevant Applicable Jurisdiction without delay.

No action has been taken by PKI or MAS to obtain any approval, authorisation or exemption to permit the issue of Consideration Instruments, or the possession or distribution of the Transaction Documents (or any other publicly available documents relating to the Voluntary Bid), in any jurisdiction other than South Africa.

## Exhibit 99.7

**Exhibit 99.7**

---

| | |
|:---|:---|
| **PK Investments Limited**<br> (Incorporated in the Isle of Man)<br> (Registration number 014469V)<br> (**"PKI"**) | ![](ex99-7_001.jpg) |

---

**NOTICE OF CASH CONSIDERATION CURRENCY EXCHANGE RATE**

**NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.**

***Unless the contexts indicate otherwise, all capitalised terms used but not defined in this announcement shall bear the meanings ascribed to them in the Circular (as defined below).***

MAS Shareholders are referred to the announcement published by PKI on SENS on 4 August 2025 (the "**PKI SENS Announcement**") and the accompanying voluntary bid circular published by PKI on the same date (the "**Circular**"). MAS Shareholders are further referred to the announcements published by PKI on SENS on 7 August 2025 and 11 August 2025, respectively.

MAS Shareholders holding MAS Shares on the MAS SA Register who elected to receive the Cash Consideration in respect of some or all of their MAS Shares will, subject to any scaling back of the Cash Consideration, receive on the applicable Cash Settlement Date, their Cash Consideration in South African Rand ("**Rand**"), converted at the exchange rate offered by FirstRand Bank Limited and determined today, Thursday, 14 August 2025, of EUR 1.00: ZAR 20.488.

Accordingly, the Cash Consideration of EUR1.40 per MAS Share will be equal to 28.6832 Rand per MAS Share.

For the avoidance of doubt, the information provided in this announcement is only of direct application to MAS Shareholders on the MAS SA Register.

14 August 2025

---

| | |
|:---|:---|
| South African Legal Advisor to PKI in respect of<br> the Voluntary Bid | Transaction Sponsor to PKI in respect of the Voluntary Bid<br> and Transaction Advisor and Transaction Sponsor in<br> respect of the listing of the Consideration Instruments |
| ![](ex99-7_002.jpg) | ![](ex99-7_003.jpg) |
| Malta Legal Advisor to PKI in respect of the<br> Voluntary Bid | South African Legal Advisor to PKI in respect of the issue<br> and listing of the Consideration Instruments |
| ![](ex99-7_004.jpg) | ![](ex99-7_005.jpg) |
| Isle of Man Legal Advisor to PKI in respect of the Voluntary Bid<br> and the issue and listing of the Consideration Instruments |  |
| ![](ex99-7_006.jpg) |  |

---

**Important notes:**

This announcement is not an offer. This announcement does not constitute a prospectus as contemplated in the South African Companies Act, 2008 or a prospectus-equivalent document. Any decision in relation to the Voluntary Bid should be made only on the basis of the information in the Circular and the other Transaction Documents (as such term has been defined in the PKI SENS Announcement).

The release, publication or distribution of the Transaction Documents in jurisdictions other than South Africa may be restricted by law and therefore persons who are subject to the laws of any jurisdiction other than South Africa into which the Transaction Documents are released, published or distributed should inform themselves about and observe any such restrictions. No action has been taken or will be taken to permit the possession or distribution of the Transaction Documents (or any other offering or publicity materials relating to the Voluntary Bid) in any jurisdiction where action for that purpose may be required or doing so is restricted or prohibited by law. Accordingly, neither the Transaction Documents, nor any advertisement, nor any other offering material, may be distributed or published except under circumstances that will comply with any applicable laws and regulations. Persons into whose possession the Transaction Documents come should inform themselves about and observe any such restrictions (including, without limitation, those described in further detail in the Transaction Documents in relation to persons situated in the United States, the European Economic Area, the United Kingdom, Switzerland, Australia and Namibia). Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable laws, PKI disclaims any responsibility or liability for the violation of such requirements by any person.

It is the responsibility of the person (including, without limitation, nominees, agents and trustees for such person) wishing to receive the Transaction Documents and/or subscribe for Consideration Instruments or otherwise participate in the Voluntary Bid to satisfy themselves as to the full observance of the applicable laws of any relevant territory, including obtaining any requisite governmental or other consents, observing any other requirements or formalities and paying any issue, transfer or other taxes due in such territories. Any MAS Shareholder who is in doubt about their position, including and without limitation their tax status, should consult an appropriate professional advisor in the relevant jurisdiction without delay.

The information contained in the Transaction Documents constitutes factual information as contemplated in section 1(3)(a) of the South African Financial Advisory and Intermediary Services Act, No. 37 of 2002, as amended, and should not be construed as an express or implied recommendation, guide or proposal that the Voluntary Bid, or the present or future business or investments of MAS is appropriate to the particular investment objectives, financial situations or needs of any MAS Shareholder or prospective investor, and nothing in the Transaction Documents should be construed as constituting the canvassing for, or marketing or advertising of, financial services in South Africa.

**Forward-looking statements**

The Transaction Documents contain statements about PKI or MAS that are, or may be, forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements, including, without limitation, those concerning: strategy; the economic outlook for the industry; production; cash costs and other operating results; growth prospects and outlook for operations, individually or in the aggregate; liquidity and capital resources and expenditure and the outcome and consequences of any pending litigation proceedings. These forward-looking statements are not based on historical facts, but rather reflect current expectations concerning future results and events and generally may be identified by the use of forward-looking words or phrases such as "believe", "aim", "expect", "anticipate", "intend", "foresee", "forecast", "likely", "should", "planned", "may", "estimated", "potential" or similar words and phrases.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by forward-looking statements as well as expectations based on existing disclosures regarding current or historical events and conditions. In addition to the information regarding these risks, uncertainties, assumptions and other factors set forth in the Transaction Documents, important risk factors that may cause such a difference, and which should be considered in connection with a decision to participate in the Voluntary Bid. PKI cautions that forward-looking statements are not guarantees of future performance.

Actual results, financial and operating conditions, liquidity and the developments within the industry in which PKI operates may differ materially from those made in, or suggested by, the forward-looking statements contained in the Transaction Documents. All these forward-looking statements about PKI are based on estimates and assumptions regarding PKI, as made by PKI, and although PKI believes them to be reasonable, are inherently uncertain. Such estimates, assumptions or statements may not eventuate. Factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in those statements or assumptions include other matters not yet known to PKI or not currently considered material by PKI.

MAS Shareholders should keep in mind that any forward-looking statement made in the Transaction Documents or elsewhere is applicable only at the date on which such forward-looking statement is made. New factors that could cause the business of PKI not to develop as expected may emerge from time to time and it is not possible to predict all of them. Further, the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statement are not known. PKI has no duty to, and does not intend to, update or revise the forward-looking statements contained in the Transaction Documents after the date of the Transaction Documents, except as may be required by law.

Any forward-looking statement has not been reviewed nor reported on by the external auditors.

**Foreign MAS Shareholders**

The Transaction Documents are governed by, and will be construed and implemented in accordance with, the laws of South Africa and will be subject to the exclusive jurisdiction of the South African courts. These South African laws may be different from the laws applicable in other jurisdictions. Certain MAS Shareholders who have a registered address in and/or who are nationals, citizens or residents of any country other than in South Africa ("**Applicable Jurisdiction**") may be prohibited from participating in the Voluntary Bid and/or acquiring Consideration Instruments and should consult and obtain advice from a professional advisor in the relevant Applicable Jurisdiction without delay.

No action has been taken by PKI or MAS to obtain any approval, authorisation or exemption to permit the issue of Consideration Instruments, or the possession or distribution of the Transaction Documents (or any other publicly available documents relating to the Voluntary Bid), in any jurisdiction other than South Africa.

## Exhibit 99.8

**Exhibit 99.8**

---

| | |
|:---|:---|
| **PK Investments Limited**<br> (Incorporated in the Isle of Man)<br> (Registration number 014469V)<br> (**"PKI"**) | ![](ex99-8_001.jpg) |

---

**INCREASE IN MAXIMUM CASH AMOUNT UNDER THE VOLUNTARY BID**

**NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.**

***Unless the contexts indicate otherwise, all capitalised terms used but not defined in this announcement shall bear the meanings ascribed to them in the Circular (as defined below).***

MAS Shareholders are referred to the announcement published by PKI on SENS on 4 August 2025 (the "**PKI SENS Announcement**") and the accompanying voluntary bid circular published by PKI on the same date (the "**Circular**"). MAS Shareholders are further referred to the announcements published by PKI on SENS on 7 August 2025, 11 August 2025 and 14 August 2025, respectively.

PKI hereby advises MAS Shareholders that it has, in its discretion, elected to increase the Maximum Cash Amount from EUR110,000,000 to EUR115,000,000. PKI further advises MAS Shareholders that it has, simultaneously with this announcement, notified MAS in writing hereof.

This increase of the Maximum Cash Amount will apply to all valid and lawful acceptances of the Voluntary Bid received by the Closing Date.

15 August 2025

---

| | |
|:---|:---|
| South African Legal Advisor to PKI in respect of<br> the Voluntary Bid | Transaction Sponsor to PKI in respect of the Voluntary Bid<br> and Transaction Advisor and Transaction Sponsor in<br> respect of the listing of the Consideration Instruments |
| ![](ex99-8_002.jpg) | ![](ex99-8_003.jpg) |
| Malta Legal Advisor to PKI in respect of the<br> Voluntary Bid | South African Legal Advisor to PKI in respect of the issue<br> and listing of the Consideration Instruments |
| ![](ex99-8_004.jpg) | ![](ex99-8_005.jpg) |
| Isle of Man Legal Advisor to PKI in respect of the Voluntary Bid<br> and the issue and listing of the Consideration Instruments |  |
| ![](ex99-8_006.jpg) |  |

---

**Important notes:**

This announcement is not an offer. This announcement does not constitute a prospectus as contemplated in the South African Companies Act, 2008 or a prospectus-equivalent document. Any decision in relation to the Voluntary Bid should be made only on the basis of the information in the Circular and the other Transaction Documents (as such term has been defined in the PKI SENS Announcement).

The release, publication or distribution of the Transaction Documents in jurisdictions other than South Africa may be restricted by law and therefore persons who are subject to the laws of any jurisdiction other than South Africa into which the Transaction Documents are released, published or distributed should inform themselves about and observe any such restrictions. No action has been taken or will be taken to permit the possession or distribution of the Transaction Documents (or any other offering or publicity materials relating to the Voluntary Bid) in any jurisdiction where action for that purpose may be required or doing so is restricted or prohibited by law. Accordingly, neither the Transaction Documents, nor any advertisement, nor any other offering material, may be distributed or published except under circumstances that will comply with any applicable laws and regulations. Persons into whose possession the Transaction Documents come should inform themselves about and observe any such restrictions (including, without limitation, those described in further detail in the Transaction Documents in relation to persons situated in the United States, the European Economic Area, the United Kingdom, Switzerland, Australia and Namibia). Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable laws, PKI disclaims any responsibility or liability for the violation of such requirements by any person.

It is the responsibility of the person (including, without limitation, nominees, agents and trustees for such person) wishing to receive the Transaction Documents and/or subscribe for Consideration Instruments or otherwise participate in the Voluntary Bid to satisfy themselves as to the full observance of the applicable laws of any relevant territory, including obtaining any requisite governmental or other consents, observing any other requirements or formalities and paying any issue, transfer or other taxes due in such territories. Any MAS Shareholder who is in doubt about their position, including and without limitation their tax status, should consult an appropriate professional advisor in the relevant jurisdiction without delay.

The information contained in the Transaction Documents constitutes factual information as contemplated in section 1(3)(a) of the South African Financial Advisory and Intermediary Services Act, No. 37 of 2002, as amended, and should not be construed as an express or implied recommendation, guide or proposal that the Voluntary Bid, or the present or future business or investments of MAS is appropriate to the particular investment objectives, financial situations or needs of any MAS Shareholder or prospective investor, and nothing in the Transaction Documents should be construed as constituting the canvassing for, or marketing or advertising of, financial services in South Africa.

**Forward-looking statements**

The Transaction Documents contain statements about PKI or MAS that are, or may be, forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements, including, without limitation, those concerning: strategy; the economic outlook for the industry; production; cash costs and other operating results; growth prospects and outlook for operations, individually or in the aggregate; liquidity and capital resources and expenditure and the outcome and consequences of any pending litigation proceedings. These forward-looking statements are not based on historical facts, but rather reflect current expectations concerning future results and events and generally may be identified by the use of forward-looking words or phrases such as "believe", "aim", "expect", "anticipate", "intend", "foresee", "forecast", "likely", "should", "planned", "may", "estimated", "potential" or similar words and phrases.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by forward-looking statements as well as expectations based on existing disclosures regarding current or historical events and conditions. In addition to the information regarding these risks, uncertainties, assumptions and other factors set forth in the Transaction Documents, important risk factors that may cause such a difference, and which should be considered in connection with a decision to participate in the Voluntary Bid. PKI cautions that forward-looking statements are not guarantees of future performance.

Actual results, financial and operating conditions, liquidity and the developments within the industry in which PKI operates may differ materially from those made in, or suggested by, the forward-looking statements contained in the Transaction Documents. All these forward-looking statements about PKI are based on estimates and assumptions regarding PKI, as made by PKI, and although PKI believes them to be reasonable, are inherently uncertain. Such estimates, assumptions or statements may not eventuate. Factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in those statements or assumptions include other matters not yet known to PKI or not currently considered material by PKI.

MAS Shareholders should keep in mind that any forward-looking statement made in the Transaction Documents or elsewhere is applicable only at the date on which such forward-looking statement is made. New factors that could cause the business of PKI not to develop as expected may emerge from time to time and it is not possible to predict all of them. Further, the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statement are not known. PKI has no duty to, and does not intend to, update or revise the forward-looking statements contained in the Transaction Documents after the date of the Transaction Documents, except as may be required by law.

Any forward-looking statement has not been reviewed nor reported on by the external auditors.

**Foreign MAS Shareholders**

The Transaction Documents are governed by, and will be construed and implemented in accordance with, the laws of South Africa and will be subject to the exclusive jurisdiction of the South African courts. These South African laws may be different from the laws applicable in other jurisdictions. Certain MAS Shareholders who have a registered address in and/or who are nationals, citizens or residents of any country other than in South Africa ("**Applicable Jurisdiction**") may be prohibited from participating in the Voluntary Bid and/or acquiring Consideration Instruments and should consult and obtain advice from a professional advisor in the relevant Applicable Jurisdiction without delay.

No action has been taken by PKI or MAS to obtain any approval, authorisation or exemption to permit the issue of Consideration Instruments, or the possession or distribution of the Transaction Documents (or any other publicly available documents relating to the Voluntary Bid), in any jurisdiction other than South Africa.

## Exhibit 99.9

**Exhibit 99.9**

---

| | |
|:---|:---|
| **PK Investments Limited**<br> (Incorporated in the Isle of Man)<br> (Registration number 014469V)<br> (**"PKI"**) | ![](ex99-9_001.jpg) |

---

**RESULTS OF THE VOLUNTARY BID**

**NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.**

***Unless the contexts indicate otherwise, all capitalised terms used but not defined in this announcement shall bear the meanings ascribed to them in the Circular (as defined below).***

MAS Shareholders are referred to the announcement published by PKI on SENS on 4 August 2025 (the "**PKI SENS Announcement**") and the accompanying voluntary bid circular published by PKI on the same date (the "**Circular**"). MAS Shareholders are further referred to the announcements published by PKI on SENS on 7 August 2025, 11 August 2025 ("**PKI Waiver Announcement**"), 14 August 2025 and earlier today ("**PKI Maximum Cash Increase Announcement**"), respectively. In terms of the (i) PKI Waiver Announcement, PKI waived the Minimum Cash Acceptance Condition and (ii) PKI Maximum Cash Increase Announcement, PKI increased the Maximum Cash Amount from EUR110,000,000 to EUR115,000,000 (the "**Increased Maximum Cash Amount**").

MAS Shareholders are advised that the Voluntary Bid, which closed at 12:00 on Thursday, 14 August 2025, was accepted in respect of 100,594,974 MAS Shares ("**Total Acceptances**"), comprising 14.38% of MAS' issued share capital (excluding treasury shares).

Elections received indicate that 179,131,902 MAS Shares were tendered for the Cash Consideration ("**Cash Acceptances**") and 12,287,094 MAS Shares were tendered for the Consideration Instruments (Listed) only. Of the Cash Acceptances, a total of 8,778,459 MAS Shares were tendered for the Consideration Instruments (Listed) in the event of a scale back.

As Cash Acceptances exceeded the Increased Maximum Cash Amount they will be scaled back equitably resulting in cash allocations of 45.85607% of the Cash Acceptances.

Following settlement, PKI will collectively hold 254,093,543 MAS Shares, being 36.32% of the issued share capital of MAS (excluding treasury shares).

---

| | | |
|:---|:---|:---|
| | **Number of MAS Shares** | **% of issued MAS Shares<br> (excluding treasury shares)** |
| **MAS Shares acquired by PKI in exchange for Cash Consideration** | 82142041 | 11.74% |
| **MAS Shares acquired by PKI in exchange for the issue of Consideration Instruments (Listed)\*** | 18452933 | 2.64% |
| **Total MAS Shares acquired by PKI** | 100594974 | 14.38% |

---

\* 1 845 293 300 Consideration Instruments (Listed) to be issued by PKI in respect to MAS Shares tendered for the Consideration Instruments (Listed) only and MAS Shares tendered for the Consideration Instruments (Listed) in the event of a scale back of Cash Acceptances.

PKI appreciates the strong support from MAS Shareholders for the Voluntary Bid. PKI elected to limit the total cash consideration to €115 million — despite having raised approximately €230 million — in order to maintain a healthy free float in MAS and enable DJV to make a special distribution to its own shareholders (including MAS). This distribution is intended to support MAS in reinstating dividend payments from September 2025.

PKI remains committed to protecting and growing value for all MAS Shareholders and will continue to support MAS's financial performance while pursuing initiatives to ensure operational success is reflected in the share price. If these measures do not result in a re-rating to better reflect intrinsic value, PKI will support alternatives such as targeted asset disposals, share repurchases, or other forms of capital returns.

15 August 2025

---

| | |
|:---|:---|
| South African Legal Advisor to PKI in respect of<br> the Voluntary Bid | Transaction Sponsor to PKI in respect of the Voluntary Bid<br> and Transaction Advisor and Transaction Sponsor in<br> respect of the listing of the Consideration Instruments |
| ![](ex99-9_002.jpg) | ![](ex99-9_003.jpg) |
| Malta Legal Advisor to PKI in respect of the<br> Voluntary Bid | South African Legal Advisor to PKI in respect of the issue<br> and listing of the Consideration Instruments |
| ![](ex99-9_004.jpg) | ![](ex99-9_005.jpg) |
| Isle of Man Legal Advisor to PKI in respect of the Voluntary Bid<br> and the issue and listing of the Consideration Instruments |  |
| ![](ex99-9_006.jpg) |  |

---

**Important notes:**

This announcement is not an offer. This announcement does not constitute a prospectus as contemplated in the South African Companies Act, 2008 or a prospectus-equivalent document. Any decision in relation to the Voluntary Bid should be made only on the basis of the information in the Circular and the other Transaction Documents (as such term has been defined in the PKI SENS Announcement).

The release, publication or distribution of the Transaction Documents in jurisdictions other than South Africa may be restricted by law and therefore persons who are subject to the laws of any jurisdiction other than South Africa into which the Transaction Documents are released, published or distributed should inform themselves about and observe any such restrictions. No action has been taken or will be taken to permit the possession or distribution of the Transaction Documents (or any other offering or publicity materials relating to the Voluntary Bid) in any jurisdiction where action for that purpose may be required or doing so is restricted or prohibited by law. Accordingly, neither the Transaction Documents, nor any advertisement, nor any other offering material, may be distributed or published except under circumstances that will comply with any applicable laws and regulations. Persons into whose possession the Transaction Documents come should inform themselves about and observe any such restrictions (including, without limitation, those described in further detail in the Transaction Documents in relation to persons situated in the United States, the European Economic Area, the United Kingdom, Switzerland, Australia and Namibia). Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable laws, PKI disclaims any responsibility or liability for the violation of such requirements by any person.

It is the responsibility of the person (including, without limitation, nominees, agents and trustees for such person) wishing to receive the Transaction Documents and/or subscribe for Consideration Instruments or otherwise participate in the Voluntary Bid to satisfy themselves as to the full observance of the applicable laws of any relevant territory, including obtaining any requisite governmental or other consents, observing any other requirements or formalities and paying any issue, transfer or other taxes due in such territories. Any MAS Shareholder who is in doubt about their position, including and without limitation their tax status, should consult an appropriate professional advisor in the relevant jurisdiction without delay.

The information contained in the Transaction Documents constitutes factual information as contemplated in section 1(3)(a) of the South African Financial Advisory and Intermediary Services Act, No. 37 of 2002, as amended, and should not be construed as an express or implied recommendation, guide or proposal that the Voluntary Bid, or the present or future business or investments of MAS is appropriate to the particular investment objectives, financial situations or needs of any MAS Shareholder or prospective investor, and nothing in the Transaction Documents should be construed as constituting the canvassing for, or marketing or advertising of, financial services in South Africa.

**Forward-looking statements**

The Transaction Documents contain statements about PKI or MAS that are, or may be, forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements, including, without limitation, those concerning: strategy; the economic outlook for the industry; production; cash costs and other operating results; growth prospects and outlook for operations, individually or in the aggregate; liquidity and capital resources and expenditure and the outcome and consequences of any pending litigation proceedings. These forward-looking statements are not based on historical facts, but rather reflect current expectations concerning future results and events and generally may be identified by the use of forward-looking words or phrases such as "believe", "aim", "expect", "anticipate", "intend", "foresee", "forecast", "likely", "should", "planned", "may", "estimated", "potential" or similar words and phrases.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by forward-looking statements as well as expectations based on existing disclosures regarding current or historical events and conditions. In addition to the information regarding these risks, uncertainties, assumptions and other factors set forth in the Transaction Documents, important risk factors that may cause such a difference, and which should be considered in connection with a decision to participate in the Voluntary Bid. PKI cautions that forward-looking statements are not guarantees of future performance.

Actual results, financial and operating conditions, liquidity and the developments within the industry in which PKI operates may differ materially from those made in, or suggested by, the forward-looking statements contained in the Transaction Documents. All these forward-looking statements about PKI are based on estimates and assumptions regarding PKI, as made by PKI, and although PKI believes them to be reasonable, are inherently uncertain. Such estimates, assumptions or statements may not eventuate. Factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in those statements or assumptions include other matters not yet known to PKI or not currently considered material by PKI.

MAS Shareholders should keep in mind that any forward-looking statement made in the Transaction Documents or elsewhere is applicable only at the date on which such forward-looking statement is made. New factors that could cause the business of PKI not to develop as expected may emerge from time to time and it is not possible to predict all of them. Further, the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statement are not known. PKI has no duty to, and does not intend to, update or revise the forward-looking statements contained in the Transaction Documents after the date of the Transaction Documents, except as may be required by law.

Any forward-looking statement has not been reviewed nor reported on by the external auditors.

**Foreign MAS Shareholders**

The Transaction Documents are governed by, and will be construed and implemented in accordance with, the laws of South Africa and will be subject to the exclusive jurisdiction of the South African courts. These South African laws may be different from the laws applicable in other jurisdictions. Certain MAS Shareholders who have a registered address in and/or who are nationals, citizens or residents of any country other than in South Africa ("**Applicable Jurisdiction**") may be prohibited from participating in the Voluntary Bid and/or acquiring Consideration Instruments and should consult and obtain advice from a professional advisor in the relevant Applicable Jurisdiction without delay.

No action has been taken by PKI or MAS to obtain any approval, authorisation or exemption to permit the issue of Consideration Instruments, or the possession or distribution of the Transaction Documents (or any other publicly available documents relating to the Voluntary Bid), in any jurisdiction other than South Africa.