SFH - SA French Limited - Waiver of requirement to make a mandatory offer

SFH - SA French Limited - Waiver of requirement to make a mandatory offer       
SA FRENCH LIMITED                                                               
Incorporated in the Republic of South Africa                                    
(Registration number:  1982/009174/06)                                          
Share code:  SFH    ISIN:  ZAE000108890                                         
WAIVER OF REQUIREMENT TO MAKE A MANDATORY OFFER                                 
Shareholders are referred to the announcement released on SENS on 26 April      
2011 regarding the approval by shareholders of, inter alia, the waiver of any   
requirement that the underwriters, as defined in the circular dated 1 April     
2011 ("the circular"), extend a mandatory offer to minority shareholders in     
terms of the provisions of the Securities Regulation Code and Rules of the      
Securities Regulation Panel ("the SRP") ("the Code"), as a result of the        
implementation of a rights offer or the underwriting thereof (as detailed in    
the circular).                                                                  
Shareholders are advised that the SRP has granted a ruling to waive the         
requirement for a mandatory offer as provided for in Rule 8.7 of the Code       
("the Ruling").  The reasons for granting the Ruling are available from the     
SRP on request.  Any interested party who wishes to lodge an appeal against     
the Ruling shall have 3 (three) business days from the date of this             
announcement (i.e. until 17h00 on Wednesday, 4 May 2011) to do so.  Such an     
appeal must be made in writing and addressed to the "Executive Director,        
Securities Regulation Panel" at either of the following addresses:              
Physical:      Sunnyside Office Park, First Floor, Building B, 32 Princess      
of Wales Terrace (off St. Andrews Road), Parktown,                

              Johannesburg, 2193; or                                            
Postal:        PO Box 91833, Auckland Park, Parktown, 2006; or                  
Facsimile:     +27 11 642 9284                                                  
28 April 2011                                                                   
Sandton                                                                         
Designated Advisor:  PSG Capital (Proprietary) Limited                          
Corporate Advisor:  AfrAsia Corporate Finance (Proprietary) Limited             
Date: 28/04/2011 17:00:02 Supplied by www.sharenet.co.za                     
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