Press releases

Barloworld and Newco announce results of the standby offer


10 November 2025

Barloworld and Newco have today announced the results of the Standby Offer which closed at 12:00 on Friday, 7 November 2025.

The Standby Offer was accepted by Barloworld Ordinary Shareholders holding 139,502,605 Barloworld Ordinary Shares (which is approximately 97.6% of the Standby Offer Shares). Together with the Barloworld Ordinary Shares that were already held by Newco and the Excluded Shareholders prior to the Standby Offer, these acceptances will result in Newco (together with the Excluded Shareholders) holding approximately 96.5% of the total issued Barloworld Ordinary Shares in aggregate.

As the Standby Offer has been accepted by Barloworld Ordinary Shareholders holding more than 90% of the Standby Offer shares, Newco intends to invoke the provisions of section 124 of the Companies Act to compulsorily acquire all of the remaining Barloworld Ordinary Shares not already held by it or the Excluded Shareholders, at the Per Share Standby Offer Consideration of R120.00 per Barloworld Ordinary Share (also known as the "squeeze-out").

"We are pleased with the overwhelming success of the Standby Offer. This result accomplishes what we set out to achieve when we launched our bid to acquire Barloworld. Following this outcome, we intend to initiate a squeeze-out of the remaining Barloworld shareholders and take the company private. This will enable us to ensure long-term support for the company's existing industrial growth strategy, while retaining the company's DNA as a South African industrial champion," said Sydney Mhlarhi, spokesperson for Newco.

Upon completion of the squeeze out, Newco will, together with the Excluded Shareholders, hold all of the Barloworld Ordinary Shares and an application will be made for the termination of the listing of Barloworld Ordinary Shares on the JSE and A2X.

Newco will publish an announcement in relation to the foregoing in due course. Once such notice is given, the Barloworld Ordinary Shares will be suspended from trading on the JSE and A2X, and the notice will contain further details in that regard.

The full SENS announcement is available on the Barloworld website.