ZED - Zeder Investments Limited - Result of the mandatory offer by Zeder and

ZED - Zeder Investments Limited - Result of the mandatory offer by Zeder and    
Rootstock Capital (Proprietary) Limited to the shareholders of KWV Holdings     
Limited                                                                         
Zeder Investments Limited                                                       
(Incorporated in the Republic of South Africa)                                  
Registration Number: 2006/019240/06                                             
Share Code: ZED                                                                 
ISIN Code: ZAE000088431                                                         
("Zeder")                                                                       
RESULT OF THE MANDATORY OFFER BY ZEDER AND ROOTSTOCK CAPITAL (PROPRIETARY)      
LIMITED TO THE SHAREHOLDERS OF KWV HOLDINGS LIMITED                             
Shareholders are referred to the announcement published on SENS by Zeder on 7   
April 2010 and  published in the press jointly by Zeder, Rootstock Capital      
(Proprietary) Limited ("Rootstock") and KWV Holdings Limited ("KWV Holdings") on
8 April 2010 ("the announcement"), regarding the mandatory offer made by Zeder  
and Rootstock ("the Offeror Companies") to the shareholders of KWV Holdings,    
other than the Offeror Companies ("the KWV Holdings shareholders"), to acquire  
all of their ordinary shareholding in KWV Holdings at an offer consideration of 
R9.60 per ordinary share.                                                       
The mandatory offer opened for acceptance at 09:00 on Tuesday, 4 May 2010 ("the 
opening date") and closed at 12:00 on Friday 28 May 2010 ("the closing date").  
Shareholders are advised that the Offeror Companies received acceptances from   
KWV Holdings shareholders holding 32 080 KWV Holdings shares.  The shares       
acquired in terms of the mandatory offer have, in accordance with the terms of  
the mandatory offer circular issued on 4 May 2010, been allocated between the   
Offeror Companies on the basis that Zeder has received 75% and Rootstock has    
received 25% of such shares as more fully set out in the table below:           
Offeror   Number of        Number of shares    Total number   Total             
Company   shares held      surrendered in      of shares      percentage of     
         immediately      terms of the        held           issued share       
         prior to the     mandatory offer     immediately    capital held       
opening date                         after the      immediately        
                                              closing date   after the          
                                                             closing date       
Zeder     24 174 366       24 060              24 198 426     35.08%            
Rootstock 1 543 501        8 020               1 551 521      2.25%             
Total     25 717 867       32 080              25 749 947     37.33%            
KWV Holdings shareholders participating in the mandatory offer ("offer          
participants") whose shares are held by their brokers or Central Security       
Depositary Participants ("CSDP") as nominees on their behalf have had their     
accounts with their brokers or CSDP credited with the offer consideration on    
Monday, 31 May 2010. Offer participants who hold their shares in their own name 
have, in accordance with their instructions, either had their bank accounts     
credited with the offer consideration, or a cheque posted to them in this regard
on Monday, 31 May 2010.                                                         
By order of the Zeder Board                                                     
Stellenbosch                                                                    
31 May 2010                                                                     
Transaction adviser and sponsor to Zeder:                                       
PSG Capital (Proprietary) Limited                                               
Date: 31/05/2010 17:30:01 Supplied by www.sharenet.co.za                     
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