VALUE GROUP LIMITED - Correction of pro forma tangible net asset value effect

Correction of pro forma tangible net asset value effect

Value Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1997/002203/06
Share code: VLE
ISIN code: ZAE000016507
(“Value” or “the company’)


CORRECTION OF PRO FORMA TANGIBLE NET ASSET VALUE EFFECT

Further to the SENS announcement dated 3 March 2015 relating to Value’s repurchase of
ordinary shares, shareholders are advised that the proforma financial effects of the net
asset value per share (NAV) and the tangible net asset value per share (TNAV) as at
31 August 2014 were erroneously reported.

The NAV and TNAV are accordingly corrected as follows:


                                      Proforma as reported in the
                                      SENS announcement dated               Corrected
                                            3 March 2015


                                       Cents          % change     Cents           % change

Tangible net asset value per share     422,0           4,0         403,9           (0.5)

Net asset value per share              441,7           4,0         423,5           (0,3)


All the other proforma financial effects remain unchanged.


Johannesburg
17 April 2015


Sponsor:
Investec Bank Limited

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