Titan Fincap settles scrip loan using Shoprite Holdings shares

Titan Fincap, an associate of non-executive director Dr. CH Wiese, has acquired 3,831,164 Shoprite Holdings ordinary shares to settle a Second Scrip Loan. This transaction, which occurred on October 1, 2025, involved an on-market purchase of ordinary shares at a price of R274.01 per security, totaling R1,049,777,247.64. The settlement follows a scrip borrowing arrangement announced on October 11, 2024. Dr. CH Wiese holds an indirect beneficial interest through Titan Fincap, which is controlled by TPI, where Dr. Wiese is a director. Titan Fincap has a direct beneficial interest.

In addition to the scrip loan settlement, Titan Fincap also sold a total return swap with a reference price of R274.01 per Shoprite Holdings ordinary share, which will be settled in cash. The termination date for this off-market total return swap is October 2, 2025, with the total value also reaching R1,049,777,247.64, based on the acquisition price of the ordinary shares.

The announcement clarifies that intergroup options between associates of Dr. CH Wiese, including Titan Premier Investments (Pty) Ltd, Thibault Square Financial Services (Pty) Ltd, and Titan Fincap, remain in place. These transactions, prior to the exercise of the intra-group options, do not affect the voting rights of Shoprite Holdings ordinary shares and deferred shares held by Thibault. Clearance to deal was obtained for these transactions.