Harel Mallac : Communique

HAREL MALLAC & CO. LTD

BRN: C07000952

COMMUNIQUÉ

Further to the Cautionary Announcement dated 13 March 2023 and the Communiqué dated 31 March 2023, the Board of Directors (the "Board") of Harel Mallac & Co. Ltd (the "Company") is pleased to inform its shareholders and the public in general that the shareholders of the Company have, at a Special Meeting held on this date, approved the special dividend in specie of one ordinary share of no par value of Cavell Touristic Investments Ltd ("CTIL"), for every ordinary share of the Company ("Special Dividend") held by its shareholders registered in the books of the Company on 27 April 2023.

The Special Dividend is subject to and conditional on the regulatory approval for the listing of the ordinary shares of CTIL on the Development & Enterprise Market of the Stock Exchange of Mauritius and compliance with any relevant legislation.

This communiqué appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities.

Shareholders and the investing public in general are advised to exercise caution when dealing in the shares of the Company and will be kept informed of future developments in due course.

PricewaterhouseCoopers Ltd is acting as Transaction Advisor for the Special Dividend of Harel Mallac.

By Order of the Board

HM SECRETARIES LTD

Company Secretary

This Communiqué is issued pursuant to Listing Rule 11.3. The Board accepts full responsibility for the completeness and accuracy of the information contained in this Communiqué.

25 April 2023