Msufini Tanzania Limited agreed to acquire 51% stake in East African Cables (Tanzania) Limited from East African Cables PLC (NASE:CABL) on March 6, 2024. Msufini acquired 16.218 million ordinary shares with a par value of TZS 10.Upon completion of the Sale, EAC Tanzania will cease being a subsidiary of the Company. The Sale is subject to conditions that are customary to transactions of this nature, including receipt of EAC Plc shareholders?

approval and regulatory approvals. DLA Piper South Africa Services (Pty) Ltd and Iseme Kamau & Maema Advocates acted as legal advisors to East African Cables PLC (NASE:CABL).