SOVEREIGN FOOD INVESTMENTS LIMITED - Further share repurchase programme

Further share repurchase programme

SOVEREIGN FOOD INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1995/003990/06)
JSE Code: SOV
ISIN Number: ZAE000009221
(“Sovereign” or “the Company”)

FURTHER SHARE REPURCHASE PROGRAMME

Shareholders are advised that the Company has entered into a
further mandate with a broking firm in terms of which Sovereign
shares will be repurchased from 1 March 2014 until 31 August 2014
(“Repurchase Programme”).

A maximum aggregate amount of R7.5 million may be applied towards
the Repurchase Programme. Shares may not be repurchased at a price
greater than 10% above the weighted average trading price of the
Company’s shares over the five trading days preceding any
particular purchase.

The mandate     relating to    the   Repurchase Programme   will be
irrevocable and non-discretionary during any prohibited period
as    contemplated     in the JSE Limited (“JSE”) Listings
Requirements (“Prohibited Period”). Any repurchases pursuant to
the Repurchase Programme during a Prohibited Period will be carried
out on the JSE within certain predetermined parameters and within
the limits of the Repurchase Programme that have been agreed in
writing with the broking firm.

Repurchases effected in terms of the Repurchase Programme, will be:

    -   in accordance with the general authority granted by special
        resolution of Shareholders passed at the Company’s annual
        general     meeting    (“AGM”) held   on   7    August   2013
        (“General Authority”);
    -   subject to the renewal of the General Authority at the
        2013 AGM to be held in August 2014; and
    -   in    compliance  with    the  relevant  provisions   of  the
        JSE Listings Requirements and the Companies Act, No. 71 of
        2008, as amended.

Port Elizabeth
28 February 2014

Sponsor
One Capital

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