Cautionary Announcement Relating To A Potential Acquisition

SEA HARVEST GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2008/001066/06)
Share code: SHG       ISIN: ZAE000240198
("Sea Harvest" or “the Company”)

CAUTIONARY ANNOUNCEMENT RELATING TO A POTENTIAL ACQUISITION

Shareholders are advised that the Company has entered into negotiations relating to the
following potential transaction:

   -   the acquisition by a consortium of broad-based black economic empowerment
       investors led by the Company ("B-BBEE Consortium") of the entire fishing business
       of Viking Fishing Holdings Proprietary Limited ("Viking Fishing"), by way of the
       purchase of various assets and businesses from, and shareholdings in, Viking Fishing
       and certain subsidiaries, affiliates and joint venture partners of Viking Fishing; and
   -   the acquisition by the Company of 51% of the issued share capital of Viking
       Aquaculture Proprietary Limited ("Viking Aquaculture"),

collectively the "Proposed Transaction".

The Proposed Transaction is subject to inter alia:

   -   the satisfactory completion of a comprehensive due diligence of Viking Fishing and
       Viking Aquaculture;
   -   the conclusion and execution of definitive transaction agreements and all ancillary
       documentation by the relevant parties thereto;
   -   the Minister of Agriculture, Forestry and Fisheries or his/her delegated authority at the
       Department of Agriculture, Forestry and Fisheries granting the necessary approvals
       in terms of section 21 of the Marine Living Resources Act 18 of 1998 for the
       unconditional transfer of the fishing rights to the respective members of the B-BBEE
       Consortium;
   -   the Competition Authorities unconditionally approving the Proposed Transaction as
       required by the Competition Act 89 of 1998,
   -   satisfactory financing arrangements with a third party financier being entered into for
       funding of a portion of the purchase consideration; and
   -   any regulatory and other approvals that may be required.

An announcement providing further details in relation to the Proposed Transaction will be
made in due course. Accordingly, shareholders should exercise caution when dealing in their
Sea Harvest securities until such time.

Cape Town
11 December 2017

Transaction Sponsor
PricewaterhouseCoopers Corporate Finance Proprietary Limited

Legal Advisors
Webber Wentzel

Sponsor
The Standard Bank of South Africa Limited

Advisors to Viking Fishing and Aquaculture
Investec Bank Limited

Date: 11/12/2017 08:00:00 
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