DISTRIBUTION AND WAREHOUSING NETWORK LIMITED - Results of general meeting

Results of general meeting

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

 RESULTS OF GENERAL MEETING

              Shareholders are advised that, at the general meeting (“GM”) of DAWN held today as set out in the notice of the
              GM dated 20 November 2017, regarding the disposal by DAWN of its Grohe Dawn Watertech Holdings Proprietary
              Limited (“GDW”) shares which constitute 49% of the entire issued share capital of GDW (“the transaction”), were
              voted on and passed by requisite majority of shareholders at the GM as follows:

                                                                                                         %         Number
               Total number of shares in issue that could be voted at the GM                            100         600 372 480
               Total number of shares present/represented at the GM including proxies                    75         452 212 560


                                           Votes in                     Votes                   Shares voted Abstentions             %
                                                              %                         %                                            ^
                                           favour                      against

  Ordinary Resolution Number 1:
  Approval of the transaction in           451 144 394      100            0             0       451 144 394      1 068 166        0.18
  terms of the JSE Listings
  Requirements

  Ordinary Resolution Number 2:
  Authorising the directors to
  implement ordinary resolution            451 144 394      100            0             0       451 144 394      1 068 166        0.18
  number one and anything already
  done
^ abstentions as percentage of total shares in issue that could vote

              Shareholder approval was the final suspensive condition requiring fulfilment for the transaction. The proceeds of the transaction
              will be used to settle the group’s debt and place the group in a favourable position to continue the implementation of its
              turnaround programme.

 Johannesburg
 19 December 2017

 Financial Advisor and Transaction Sponsor
 Investec

 Sponsor
 Deloitte & Touche Sponsor Services (Pty) Limited

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