AFROCENTRIC INVESTMENT CORPORATION LIMITED - Dealings in Securities by Director

Dealings in Securities by Director

AfroCentric Investment Corporation Limited
(Incorporated in South Africa)
(Registration number 1988/000570/06)
JSE share code: ACT
ISIN: ZAE000078416
(“AfroCentric” or “ACT”)


DEALINGS IN SECURITIES BY DIRECTOR

Unless otherwise defined in this announcement, words and expressions contained herein shall have the same
meanings as assigned to them in the combined circular distributed to AfroCentric Shareholders on Thursday,
8 December 2022 (“Combined Circular”) and available on AfroCentric’s website (http://www.afrocentric.za.com/inv-
circulars.php) and on Sanlam’s website (www.sanlam.com/presentations).

In accordance with paragraph 3.63 to 3.74 of the JSE Listings Requirements, Shareholders of AfroCentric are advised
of the following elections and dealings in securities by associates of a director.

Name of Non- Executive Director                              WH Britz
Nature of transaction                                        Off market acceptance of Partial Offer and tender of ACT
                                                             ordinary shares held by associates
Nature of directors’ interest                                Indirect beneficial
Date of formal acceptance and tender of ACT Shares           10 May 2023
Partial Offer price per ACT share                            R6.00

Name of associate                                              Number of ACT                              Deemed
                                                             Shares tendered                   Transaction Value
1) Royal Queens Holdings (Pty) Ltd                                   413 643                          R2 481 858
2) RQ Investments (Pty) Ltd                                       11 456 608                         R68 739 651
3) WHB Holdings (Pty) Ltd                                         11 762 657                         R70 575 942

Clearance for all the above transactions was not required but was obtained in terms of paragraph 3.66 of the JSE
Listings.

Johannesburg
11 May 2023

BACKGROUND INFORMATION
WHB Trust is the shareholder of WHB Holdings (Pty) Ltd (WH Britz is a trustee of the Trust and he together with his
immediate family are the ultimate beneficiaries of the WHB Trust). WHB Holdings (Pty) Ltd holds 50% in RQ
Investments Proprietary Limited and 50% in Royal Queens Holdings Proprietary Limited.

RESPONSIBILITY STATEMENT
The AfroCentric Board, individually and collectively, accepts responsibility for the information contained in this
announcement insofar as it relates to AfroCentric. In addition, the AfroCentric Board confirms that, to the best of its
knowledge and belief, the information contained in this announcement, as it relates to AfroCentric, is true and correct
and, where appropriate, does not omit anything that is likely to affect the importance of the information contained herein
pertaining to AfroCentric and that all reasonable enquiries to ascertain such information have been made.

Transaction Sponsor to AfroCentric
Investec Bank Limited

Date: 11-05-2023 01:22:00
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