DISTRIB. AND WAREHOUSING NETWORK LD - Finalisation announcement of the DAWN renounceable rights offer

Finalisation announcement of the DAWN renounceable rights offer

Distribution and Warehousing Network Limited
(Incorporated in the Republic of South Africa)
(Registration number 1984/008265/06)
Share code: DAW & ISIN code: ZAE000018834
(“DAWN” or “the Company” or “the Group”)

NOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS
                      UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT


           FINALISATION ANNOUNCEMENT OF THE DAWN RENOUNCEABLE RIGHTS OFFER



 DAWN shareholders (“Shareholders”) are referred to the declaration announcement released on the Stock
 Exchange News Service (“SENS”) of the JSE Limited (“JSE”) on Monday, 13 March 2017 wherein Shareholders
 were advised of DAWN’s intention to raise R350 million by way of a partially underwritten renounceable rights offer
 (“Rights Offer”) of 350 million Rights Offer shares (“Rights Offer Shares”) (excluding the c.8 million Rights Offer
 Shares attached to DAWN’s treasury shares) at a price of R1.00 per Rights Offer Share (“Rights Offer Issue
 Price”), in the ratio of 147.83904 Rights Offer Shares for every 100 existing DAWN ordinary shares (“DAWN
 Shares”) held on the record date for the Rights Offer, being Friday, 24 March 2017.

 Shareholders are advised that the Company has now received all necessary approvals and the Rights Offer is
 unconditional and accordingly the Rights Offer may now be implemented.

 The salient dates and times of the Rights Offer will be the same as those published in the declaration announcement
 released on SENS on Monday, 13 March 2017 and appeared in the press on Tuesday, 14 March 2017.

 Shareholders may commence trading the Rights Offer Shares on Wednesday, 5 April 2017 and trading the letters
 of allocation on the JSE on Wednesday, 22 March 2017.

 Further details of the Rights Offer will be set out in the Rights Offer Circular which is expected to be distributed to
 certificated Shareholders on Thursday, 23 March 2017 and to dematerialised shareholders on Tuesday, 28 March
 2017. The Rights Offer Circular will be made available on the Company’s website www.dawnltd.co.za from Monday,
 20 March 2017.


 Germiston
 15 March 2017

 Financial advisor and transaction sponsor
 Investec Bank Limited

 Legal Advisor
 White & Case LLP

 Sponsor
 Deloitte & Touche Sponsor Services (Pty) Ltd

 Underwriter
 RECM and Calibre Limited

Date: 15/03/2017 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.