Labat has reissued a cautionary statement on the JSE’S SENS News Service, saying that it is still in discussions with a “related party” about the disposal of “certain assets”
The statement, posted on 28 August 2025 said the earlier cautionary, issued on 15 July 2025, remained in force as “those negotiations are still ongoing and remain subject to finalisation, shareholders are advised that, if successfully concluded, the transaction may have a material effect on the price of the company’s securities.
“Accordingly, shareholders are advised to continue to exercise caution when dealing in the company’s securities until a full announcement is made”.
Although Labat doesn’t say which assets are up for sale, market speculation is that the new board is in discussions with a consortium that includes former chairman Brain van Rooyen about taking over the group’s cannabis interests, namely Cannafrica.
The Labat board, under the chairmanship of Irfaan Mohammed, who succeeded van Rooyen in January this year, has made no secret of the fact that it considers cannabis a high risk business and that the group’s future lies in the provision of IT services.
Six months ago said that cannabis interests were under review but no further details have emerged.
READ: Labat’s Cannabis Interests Fraying at the Edges, Looks Like a Sales Deal is Underway
