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SBL - Sable - Important Dates And Times In Respect Of The Claw-Back Offer SABLE HOLDINGS LIMITED (INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA) (REGISTRATION NUMBER 1968/010636/06) ("SABLE" OR "THE COMPANY") SHARE CODE: SBL ISIN: ZAE000006383 IMPORTANT DATES AND TIMES IN RESPECT OF THE CLAW-BACK OFFER INTRODUCTION It was announced by Sable on SENS on 13 November 2008 that it had finalised the terms of a subscription agreement with Isdale Holdings BV to raise approximately R35 million by way of a claw-back offer. The claw-back offer will result in the issuing of 1 797 400 new ordinary shares of R0.50 each to Sable ordinary shareholders who accept the offer at a subscription price of R19.47 per claw-back offer share and in the ratio of 22 claw-back offer shares for every 100 Sable shares held. Shareholders are referred to the following salient dates: IMPORTANT DATES AND TIMES 2009 Declaration Date Friday, 20 March Finalisation Date Friday, 27 March Last day to trade in Sable shares in order to settle by the record date and to qualify to participate in the claw-back Thursday, 2 April offer (cum entitlement) on Sable shares commence trading ex-rights on the Friday, 3 April JSE at commencement of trading on Record date for participation in the claw-back Thursday, 9 April offer at the close of business on Rights offer closes - payments to be made and Friday, 8 May form of instruction in respect of letters of allocation lodged by certificated shareholders by 12:00 (see Note 1) on Record date for letters of allocation on Friday, 8 May Dematerialised shareholders` accounts will be Monday, 11 May updated with entitlements and credited by their CSDP or stockbroker and certificates posted to certificated shareholders on Notes: 1. Dematerialised shareholders are required to notify their duly appointed CSDP or stockbroker of their acceptance of the claw-back offer in the manner and time stipulated in the agreement governing the relationship between the shareholder and his/her CSDP or stockbroker. 2. All times indicated are South African times. 3. Share certificates may not be dematerialised or rematerialised between Thursday, 9 April 2009 and Friday, 8 May 2009, both days inclusive. 4. Dematerialised shareholders will have their accounts at their CSDP or stockbroker automatically credited with their Sable shares in respect of which the claw-back offer has been accepted and certificated shareholders will have their Sable share certificates in respect of which the claw- back offer has been accepted posted to them at their own risk, by registered post. 5. CSDPs effect payment in respect of dematerialised shareholders on a delivery versus payment method. EXCESS APPLICATIONS AND SHARES NOT TAKEN UP Due to the fact that the offer is being made by way of a claw-back offer, Sable shareholders may not apply for rights shares in excess of those allocated to them in terms of the claw-back offer. Shares not taken up under the claw-back offer will be subscribed for and issued to Isdale Holdings BV in terms of the claw-back. CONDITIONS PRECEDENT There are no outstanding conditions precedent for this transaction. The circular is in the process of registration at the Companies and Intellectual Property Registration Office and will, once registered, be posted to Sable shareholders in due course. These dates are subject to change. Any change will be notified on SENS. Johannesburg 20 March 2009 Sasfin Capital A division of Sasfin Bank Limited Date: 20/03/2009 11:04:02 Supplied by www.sharenet.co.za 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.
