Announcement • May 25
Mahube Infrastructure Limited to Report Fiscal Year 2026 Results on May 30, 2026 Mahube Infrastructure Limited announced that they will report fiscal year 2026 results at 12:00 PM, South Africa Standard Time on May 30, 2026 Announcement • May 13
Mergence Renewable Energy Debt Fund II Trust managed by Mergence Investment Managers (Pty) Ltd. and Specialised Listed Infrastructure Equity En Commandite Partnership managed by SLIEP GP Proprietary Limited cancelled the acquisition of remaining 33.63% stake in Mahube Infrastructure Limited (JSE:MHB). Mergence Renewable Energy Debt Fund II Trust managed by Mergence Investment Managers (Pty) Ltd. and Specialised Listed Infrastructure Equity En Commandite Partnership managed by SLIEP GP Proprietary Limited proposed to acquire remaining 33.63% stake in Mahube Infrastructure Limited (JSE:MHB) for approximately ZAR 100 million on August 26, 2025. The Proposed Transaction contemplates a cash offer by the Offeror to acquire all of the Shares in Mahube (other than the Shares held by the Excluded Shareholders) by way of a scheme of arrangement and the subsequent delisting of Mahube's Shares from the exchange operated by the JSE Limited. Mergence Renewable Energy Debt Fund II Trust managed by Mergence Investment Managers (Pty) Ltd. and Specialised Listed Infrastructure Equity En Commandite Partnership managed by SLIEP GP Proprietary Limited signed an Implementation Agreement to acquire remaining 33.63% stake in Mahube Infrastructure Limited (JSE:MHB) for approximately ZAR 100 million on December 9, 2025. The Implementation Agreement includes a break fee of ZAR 1.7 million which will be payable by the Offeror to Mahube. As of April 15, 2026, the Scheme Consideration has been increased from ZAR 5.50 to ZAR 6 per Mahube Share. The Scheme Consideration will no longer be subject to any adjustment for dividends paid which are normal as to timing and amount.
The transaction is subject to approval by regulatory board / committee, subject to antitrust regulations, subject to Financial Surveillance Department of the South African Reserve Bank, subject to court approval and third party approval needed. The expected completion of the transaction is April 30, 2026. As per the announcement dated May 12, 2026 the transaction has been rejected by the shareholders of Mahube Infrastructure Limited.
Werksmans Attorneys Incorporating Jan S. de Villiers acted as legal advisor to Mahube Infrastructure Limited. Merchantec Capital acted as Independent Expert to the transaction. Cliffe Dekker Hofmeyr acted as legal advisor for SLIEP GP Proprietary Limited and Mergence Investment Managers (Pty) Ltd. Questco Corporate Advisory Proprietary Limited and Merchantec (Proprietary) Limited acted as financial advisor for Mahube Infrastructure Limited. PSG Capital acted as financial advisor for SLIEP GP Proprietary Limited and Mergence Investment Managers (Pty) Ltd.
Mergence Renewable Energy Debt Fund II Trust managed by Mergence Investment Managers (Pty) Ltd. and Specialised Listed Infrastructure Equity En Commandite Partnership managed by SLIEP GP Proprietary Limited cancelled the acquisition of remaining 33.63% stake in Mahube Infrastructure Limited (JSE:MHB) on May 11, 2026. Board Change • Apr 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Chairperson Martin Kuscus was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
