IMPERIAL HOLDINGS LIMITED - Specific Repurchase of Imperial Treasury Stock

Specific Repurchase of Imperial Treasury Stock

                                Imperial Holdings Limited
                    (Incorporated in the Republic of South Africa)
                          (Registration number 1946/021048/06)
                     Ordinary share code: IPL ISIN: ZAE000067211
                              (“Imperial” or the “Company”)


SPECIFIC REPURCHASE OF IMPERIAL TREASURY STOCK

1.    INTRODUCTION AND RATIONALE

      Imperial herewith announces the repurchase of 7,864,456 ordinary shares
      (equivalent to c. 3.8% of the Company’s issued ordinary shares), held as
      treasury stock, from Imperial Corporate Services (Pty) Limited, a wholly
      owned subsidiary of Imperial, in accordance with the specific authority
      approved by Imperial shareholders at the Annual General Meeting held on 31
      October 2012 (“Repurchase”).

      The board resolved that Imperial should repurchase the treasury stock from
      the subsidiary in order to create new capacity for the Company to repurchase
      further Imperial shares through its subsidiaries.

3.    THE TERMS OF THE REPURCHASE

      In terms of the approval, Imperial has repurchased 7,864,456 ordinary shares
      on 4 November 2016 at a price of R167.58 per ordinary share, being the
      closing share price of an Imperial ordinary share on the JSE on 3 November
      2016.

      Following the completion of the repurchase, Imperial will have nil shares
      remaining as treasury stock.

4.    SOURCE OF FUNDS

      No funds or cash resources have been utilised for the repurchase as this is
      an intra-group transaction.


6.    FINANCIAL EFFECTS

      No significant cash will flow outside of the Group, as this repurchase is
      intra-group, as such the financial effects are immaterial and therefore have
      not been disclosed.

8.    JSE LISTING

      Following the completion of the repurchase, the repurchased ordinary shares
      will be cancelled and restored to the status of authorised shares. The
      listing of the repurchased shares will be terminated upon granting approval
      by the JSE Limited.


Bedfordview
9 November 2016

Sponsor:
Merrill Lynch South Africa (Pty) Limited

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