SUMMARY OF SUBSTANTIAL TRANSACTION CIRCULAR

Following the Cautionary Announcement and Communiqué issued on 31 March 2021 and 14 June 2021, respectively, Omnicane Limited (the 'Company' or 'Omnicane') wishes to inform its shareholders and the public at large of the completion of the 'Transaction' as per Listing Rules 13.15:

The Transaction relates to the following sales as detailed below:

(i) Sale of various plots of land belonging to the Company (the 'Sale of Land')

Seller

Buyer

Plots of Land

Type of Land

Consideration

(MUR M)

Omnicane

The Mauritius

In the regions of Britannia, Mon Trésor and Plaine

Agricultural,

2,037

Investment

Magnien

Residential

Corporation

Ltd ('MIC')

(ii) Sale of shares of Mon Tresor Smart City Ltd ('MTSC') (the 'Sale of Shares')

Seller

Buyer

Name of

the

Class

of

Number

of

Percentage

Consideration

Company

in

Shares

Shares

Holding

(MUR M)

which the Shares

are held

Omnicane

MIC

MTSC

Ordinary

26,951,072

100%

2,415

An independent valuer was appointed for the Transaction. The price consideration in respect of the Sale of Land for Omnicane and for lands owned by MTSC has been determined by the Independent Valuer based on an open market value approach. It is noted that the core assets of MTSC comprise of a land bank..

Taking into account the available set of data and the estimates received from the Independent Valuer, the directors of the Company took the decision to proceed with the Transaction for a total consideration of MUR 4.45 billion.

The net proceeds of the Transaction have been used to strengthen the balance sheet of Omnicane.

On 10 June 2021, Omnicane Holdings Limited ('OHL') approved the Transaction in accordance with Rule

13.10 of the Listing Rules. It is noted that OHL is the shareholder holding more than 50% in nominal value/value of the securities giving it the rights to attend and vote at a meeting of shareholders. A circular shall be sent to the shareholders.

The shareholders of the Company and the public in general are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

Omnicane Management & Consultancy Limited

Managers & Secretaries

Date: 11 February 2022

This Communiqué is issued pursuant to Listing Rule 13.15.

The Board of Directors of Omnicane Limited accepts full responsibility for the accuracy of the information contained in this Communiqué.

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Omnicane Ltd. published this content on 11 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2022 15:48:07 UTC.