TORRE INDUSTRIES LIMITED - Notification in terms of section 122 of the Companies Act No.71 of 2008

Notification in terms of section 122 of the Companies Act No.71 of 2008

TORRE INDUSTRIES LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2012/144604/06)
Share code: TOR
ISIN: ZAE000188629
(“Torre” or “the Company”)

NOTIFICATION IN TERMS OF SECTION 122 OF THE COMPANIES ACT
NO.71 OF 2008

Shareholders are referred to the SENS announcements published
on 16 February 2015 and 13 April 2015 and the circular posted
on 13 April 2015 relating to the acquisition of 100% of Set
Point and the issue of new Torre shares to MIC and Safika (the
“Transactions”).

Torre has issued new shares for the Transactions and
accordingly, in terms of section 122 (3)(b) of the Companies
Act No. 71 of 2008, as amended, and paragraph 3.83(b) of the
Listings Requirements of the JSE Limited, received formal
notification that:

-   MIC Investment Holdings (Pty) Ltd (“MIC”) has increased
    its beneficial interest in the ordinary shares of the
    Company such that MIC’s shareholding is now 12.954%;
-   Safika Holdings (Pty) Ltd (“Safika”) has increased its
    beneficial interest in the ordinary shares of the Company
    such that Safika’s shareholding is now 11.047%;
-   Sabvest Finance and Guarantee Corporation (Pty) Ltd
    (“Sabvest Finance”) has decreased its beneficial interest
    in the ordinary shares of the Company, due to dilution,
    such that Sabvest Finance’s shareholding is now 4.74%;
-   Sabvest Investments (Pty) Ltd (“Sabvest Investments”) has
    increased its beneficial interest in the ordinary shares
    of the Company such that Sabvest Investments’ shareholding
    is now 7.30%;
-   Sabvest Group has thus increased its beneficial interest
    in the ordinary shares of the Company from 6.8% to 12.04%
    through the increase in Sabvest Investments and the
    decrease in Sabvest Finance;
-   SJP Capital Ltd (“SJP”) has decreased its beneficial
    interest in the ordinary shares of the Company, due to
    dilution, such that SJP’s shareholding is now 8.04%; and
-   Asgard Capital Assets (“Asgard”) has decreased its
    beneficial interest in the ordinary shares of the Company,
    due to dilution, such that Asgard’s shareholding is now
    8.82%.

The Company has notified the Takeover Regulation Panel as
required.

25 May 2015
Sponsor and Corporate Finance Adviser
AfrAsia Corporate Finance (Pty) Ltd

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