RARE HOLDINGS LIMITED - Results of the claw-back offer

Results of the claw-back offer

RARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2002/025247/06
Share Code: RAR ISIN: ZAE000180626
(“RARE” or “the Company”)

RESULTS OF THE CLAW-BACK OFFER

1.   INTRODUCTION

     Shareholders are referred to the announcement released on SENS
     on 7 April 2014 and the circular posted to shareholders dated
     14 April 2014 setting out the details of the Claw-Back Offer in
     terms of which the Company issued 25 000 000 ordinary shares of
     no par value in its authorised share capital (“Claw-Back
     Shares”) for subscription by Doculate Investments Proprietary
     Limited (“the Subscriber”) for a subscription price of R6.00
     per Claw-Back Share (“Subscription”) and which Claw-Back Shares
     could be clawed back by RARE shareholders (recorded in the
     share register on the record date, being 17 April 2014) from
     the Subscriber in the ratio of 1.39762 Claw-Back Shares for
     every 1 RARE share held.

2.   RESULTS OF THE CLAW-BACK OFFER

2.1. Applications for 430 614 Claw-Back Shares constituting 1.7%
     (excluding the allocation to which the Subscriber is entitled)
     of the Subscription (“Applications”), were received from RARE
     shareholders (or their renouncees). The subscription price of
     R2 583 684 in respect of the Applications will be refunded by
     RARE to the Subscriber.   The balance of 24 569 386 Claw-Back
     Shares, constituting 98.3% of the Subscription (including the
     allocation to which the Subscriber is entitled), not applied
     for by RARE shareholders or their renouncees, has been
     credited to the Subscriber’s Central Securities Depository
     Participant.

2.2. The Claw-Back Offer did not include the right for RARE
     shareholders to apply for excess Claw-Back Shares.

2.3. Following the closing of the Claw-Back Offer, the Subscriber
     holds 37 750 301 RARE shares, representing 88.02% of the total
     issued share capital of RARE.


Johannesburg
12 May 2014

Designated advisor:   PSG Capital Proprietary Limited

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