SWAZISPA HOLDINGS LIMITED

Swazispa Holdings Limited (“Swazispa”) is a listed company on the SSX.

Swazispa operates as an investment holding company, which owns the Royal Swazi Sun, the Lugogo Sun, the Ezulwini Sun and various other property assets. It has a current market capitalisation of E41.9 million. In 2013, Greystone Partners was seeking an investment of E30 million in Swazispa; however the transaction was not concluded. In anticipation of a possible transaction, Greystone Partners had accumulated some Swazispa shares on the SSX.

 Sun International (“SI”) owns 50.6% of the ordinary share capital of Swazispa, Tibiyo Taka Ngwane (“Tibiyo”), a trust established for the benefit of the Swazi Nation, owns 39.7%, with the remaining 9.7% held by a small number of minority shareholders.

Due to the transaction not being concluded and thus the strategic reasoning for holding Swazispa shares being negated, the board of Greystone Partners has mandated the Manager to dispose of these shares.