PIC increases stake in Foschini Group to over 20%

The Foschini Group Limited (TFG) has formally notified shareholders that Public Investment Corporation SOC Limited (PIC) has increased its interest in TFG's ordinary shares. This increase brings PIC's total interest to 20.41% of the total issued ordinary share capital of the company.

This notification is made in accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008, and section 3.83(b) of the JSE Limited Listings Requirements. TFG's board of directors accepts responsibility for the accuracy of the information presented, confirming it to be true and complete to the best of their knowledge and belief.

Furthermore, TFG has filed the necessary notices with the Takeover Regulation Panel, as mandated by section 122(3)(a) of the Act. The announcement was released from Cape Town on 29 September 2025, with RAND MERCHANT BANK (a division of FirstRand Bank Limited) serving as the JSE sponsor.