M & S HOLDINGS LIMITED - Dealings by an associate of a Director

Dealings by an associate of a Director

M&S Holdings Limited
(Formerly Top Fix Holdings Limited)
Incorporated in the Republic of South Africa
Registration number 2006/011359/06
Share code: MSA
ISIN code: ZAE000165411

DEALING IN M&S HOLDINGS LIMITED SECURITIES BY AN ASSOCIATE OF A DIRECTOR

In compliance with rules 3.63 to 3.74 of the JSE Limited Listings
Requirements, the following information is disclosed:

NAME OF DIRECTOR                      N de Waal
STATUS:EXECUTIVE/NON-EXECUTIVE        Non-Executive
TYPE OF SECURITIES                    Shares
CLASS OF SECURITIES                   Ordinary
DATE OF TRANSACTION                   7 December 2012                  (1)
                                      12 December 2012                 (2)
                                      13 December 2012                 (3)
CENTS PER SHARE                       41                               (1)
                                      43                               (2)
                                      43                               (3)
NUMBER OF SECURITIES TRANSACTED       560 000                          (1)
                                      1 588 346                        (2)
                                      407 500                          (3)
TOTAL RAND VALUE OF SECURITIES        R229 600.00                      (1)
                                      R682 988.78                      (2)
                                      R175 225.00                      (3)
NAME OF ASSOCIATE                     PSG Private Equity Consortium (RF)
                                      Proprietary Limited
RELATIONSHIP WITH DIRECTOR            Director and shareholder
NATURE OF TRANSACTION                 Acquisition of shares by an associate
                                      of the director(On-market transaction)
NATURE AND EXTENT OF INTEREST IN      Indirect, beneficial
THE TRANSACTION
CLEARANCE OBTAINED                    Not required

10 January 2013

Designated adviser
Sasfin Capital
(a division of Sasfin Bank Limited)

Corporate adviser
PSG Capital

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