CANAL+ ANNOUNCES RESULTS OF THE MANDATORY OFFER PROCESS FOR MULTICHOICE GROUP AND FUTURE LISTING OF CANAL+ ON THE JSE

CANAL+ and MultiChoice Group (MCG) have today announced the results of the Mandatory Tender Offer by CANAL+ for all of the shares of MultiChoice Group that it did not already own.

Following the close of the Offer process, CANAL+ will own approximately 94.39% of all MCG shares.

As the offer was accepted by more than 90% of MultiChoice shareholders, CANAL+ intends, in accordance with the provisions of the Companies Act, to compulsorily acquire all remaining MultiChoice shares (also known as a “squeeze out”). Once MCG is a wholly-owned subsidiary, CANAL+ will then initiate the process to terminate MCG’s listing on the JSE (Johannesburg Stock Exchange), subject to the necessary approvals.

In accordance with the commitment made by CANAL+ as part of the approval of the CANAL+ Offer by the South African competition authorities, the company will, subject to obtaining all regulatory approvals, undertake a secondary inward listing of CANAL+ on the JSE.

The integration of MultiChoice and CANAL+ has now commenced. Following an in-depth review, CANAL+ intends to inform the market of its detailed plans and synergies when it provides a strategic update for the combined Group during the first quarter of 2026.

Maxime Saada, CEO of CANAL+ said: “We are pleased with the overwhelming success of the offer. Following this outcome, we will now acquire the remaining shares in MultiChoice and seek a secondary inward listing of CANAL+ in Johannesburg, in addition to our primary listing in London. We were clear the day we launched the acquisition of MultiChoice that this was a commitment we wanted to make. Given the important role CANAL+ will now play in South Africa and across the African continent, we believe it is critically important that domestic investors have the are able to have exposure to a leading media and entertainment company on the Johannesburg Stock Exchange while investors continue to get access to CANAL+ through the London Stock Exchange platform.”

Please see attached the whole market announcement.

CANAL+ enquiries:

Jack Walker
jwalker@brunswickgroup.com / +1 (212) 333-3810
Diana Munro
dmunro@brunswick.co.za / +27 (0) 11 502 7300
Alima Levy
ir@canal-plus.com
Hala Saab
Hala.saab@canal-plus.com