COMBINED MOTOR HOLDINGS LIMITED - Cautionary announcement

Cautionary announcement

COMBINED MOTOR HOLDINGS LIMITED 
("the Company" or "CMH")
Registration number: 1965/000270/06 
Income tax reference number: 9471/712/71/2   
Share code: CMH
ISIN: ZAE000088050   

CAUTIONARY ANNOUNCEMENT

Shareholders are advised that the directors of CMH have proposed 
a share repurchase on a voluntary pro rata basis of 21 133 000 
ordinary shares of no par value ("the Repurchase Shares") in the 
Company at a price of R11,83 each. 

The Company will make an offer to all shareholders to voluntarily 
submit for repurchase all or a portion of their  shareholding. 
In the event that Shares in excess of the Repurchase Shares are 
submitted for repurchase, then each shareholder who submits shares 
for repurchase will be paid pro rata to the number of shares submitted. 
If submissions total fewer than the Repurchase Shares, then 
shareholders who have submitted shares for repurchase will be paid 
in full, and no further shares will be repurchased. The repurchase 
will be effected using the Group's existing cash resources. 

Further details of the proposed repurchase and notice of a meeting of 
shareholders to seek approval thereof will be contained in a circular 
which will be sent to shareholders once regulatory approvals 
have been obtained. 

Shareholders are accordingly advised to exercise caution when 
dealing in the Company's shares until such time as a full 
announcement is made. 

Durban
21 April 2015

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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