ZEDER INVESTMENTS LIMITED - Disposal of shareholding in Overberg Agri Limited - Voluntary Announcement

Disposal of shareholding in Overberg Agri Limited  - Voluntary Announcement

Zeder Investments Limited
Incorporated in the Republic of South Africa
(Registration number: 2006/019240/06)
Share code: ZED
ISIN: ZAE000088431
(“Zeder”)

DISPOSAL OF SHAREHOLDING IN OVERBERG AGRI LIMITED – VOLUNTARY
ANNOUNCEMENT

1.   INTRODUCTION

     Shareholders are hereby advised that Zeder, acting
     through its wholly owned subsidiary, Zeder Financial
     Services Limited, has disposed of 812 856 ordinary shares
     in Overberg Agri Limited (“Overberg Agri”), constituting
     Zeder’s   entire   shareholding  in   Overberg  Agri   of
     approximately    10%,   to   Overberg   Agri   Beleggings
     (Proprietary) Limited, a wholly owned subsidiary of
     Overberg Agri (“Disposal”).

2.   RATIONALE FOR THE DISPOSAL

     Zeder is an investor in the broad agribusiness industry
     with a specific focus on the food and beverage sectors.
     Over the past 18 months, Zeder has communicated a refined
     strategy to the market. It seeks larger, strategic stakes
     in entities that allow it to play a more active role in
     its underlying portfolio companies and assist with the
     determination of appropriate long-term strategies to help
     expand the respective businesses. While the investment in
     Overberg Agri was successful, the small percentage
     shareholding no longer fitted in with Zeder’s strategy.

     Zeder’s internal rate of return on this investment was in
     excess of 30%.

3.   SALIENT DETAILS OF THE DISPOSAL

     In terms of the Disposal, Zeder disposed of its 812 856
     ordinary shares in Overberg Agri for a consideration of
     R119.5 million, which consideration was settled through
     the transfer of approximately 1.35 million ordinary
     shares in Pioneer Food Group Limited to Zeder. The
     effective date of the Disposal was 6 February 2014.

Stellenbosch
12 February 2014

Transaction Advisor and Sponsor
PSG Capital

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