SPANJAARD LIMITED - Resignation of Director

Resignation of Director

Spanjaard Limited
(Incorporated in the Republic of South Africa)
(Registration number 1960/004393/06)
Share Code: SPA           ISIN: ZAE000006938
(“Spanjaard” or “the company”)


RESIGNATION OF DIRECTOR


Spanjaard wishes to announce that Mr. Hentie van Heerden has resigned as the
financial director of Spanjaard with effect from 31 July 2015.

By agreement with the company, he will be rendering consultancy services to the
company for the immediate future.

By order of the board

Johannesburg
31 July 2015

Sponsor
Arbor Capital Sponsors Proprietary Limited

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