GLOBAL ASSET MANAGEMENT LIMITED - Notification in terms of section 122 of the Companies Act, 2008 (No 71 of 2008) and change in directors interests

Notification in terms of section 122 of the Companies Act, 2008 (No 71 of 2008) and change in directors’ interests

GLOBAL ASSET MANAGEMENT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/003192/06)
("Global" or “the Company”)
Share Code: GAM  ISIN: ZAE000173498


NOTIFICATION IN TERMS OF SECTION 122 OF THE COMPANIES ACT, 2008 (NO 71 OF
2008) (“THE ACT”) AND CHANGE IN DIRECTORS’ INTERESTS


Shareholders are advised of the restructure of the shareholding in Global and the
resultant indirect dealings of directors in Global shares.

In compliance with Section 122 of the Act and in accordance with Section 3.83(b)
of the Johannesburg Stock Exchange’s (“JSE”) Listings Requirements, Global confirms
that it has received notification in accordance with Section 122 of the Act as follows:

(i)     Insure Group Managers Limited (“Insure”) to the effect that Insure has
        distributed 10 976 579 shares in Global to its controlling shareholder Inshare
        Proprietary Limited (“Inshare”), comprising a 20.26% interest in the total issued
        ordinary shares of the Company. Accordingly Insure now holds 22 660 571
        shares, comprising 41.84% in the issued ordinary shares of Global;

Simultaneously with the above distribution of Global shares, Inshare has entered into
a repurchase transaction of certain Inshare shares, settled by Global shares, as
follows:

(ii)    Earthwize Recycling Proprietary Limited (“Earthwize Recycling”), a company
        wholly owned by Niels Penzhorn, a director of Global and shareholder in
        Inshare, has acquired 4 334 404 Global shares in settlement of a repurchase
        transaction of Inshare shares between Earthwize Recycling and Inshare
        amounting to an 8.00% beneficial interest in the securities of the Company;
        and

(iii)   Conceptual Technologies Africa Proprietary Limited (“Conceptual
        Technologies”), a company wholly owned by a family trust of Koos van
        Ettinger, a director of Global and shareholder in Inshare, has acquired
        5 706 051 Global shares in settlement of a repurchase transaction of Inshare
        shares between Conceptual Technologies and Inshare amounting to a 10.53%
        beneficial interest in the securities of the Company.

Whilst the above distribution and restructure of the Inshare shareholding by way of a
repurchase transaction is not a trade in Global’s shares, it does lead to a small
change in the shareholding of the above-mentioned directors.
Accordingly, a dealings announcement in compliance with paragraphs 3.63 to 3.74
of the Listings Requirements of the Johannesburg Stock Exchange is set out below:

Name of director:              Niels Penzhorn
Date of transaction:           30 June 2016
Name of company:               Global
Number of securities:          4 334 404
Class of securities:           Ordinary shares
Nature of transaction:         Acquisition of shares pursuant to a restructuring
                               above Global, as set out in paragraph (ii) above
Price per share:               R2.48
Nature of interest:            Indirect beneficial
Extent of interest:            8.00%
Value of transaction:          R10 749 322
How traded                     Off-market
Clearance to deal obtained:    Yes

Name of director:              Koos van Ettinger
Date of transaction:           30 June 2016
Name of company:               Global
Number of securities:          5 706 051
Class of securities:           Ordinary shares
Nature of transaction:         Acquisition of shares pursuant to a restructuring
                               above Global, as set out in paragraph (iii) above
Price per share:               R2.48
Nature of interest:            Indirect beneficial
Extent of interest:            10.53%
Value of transaction:          R14 151 007
How traded                     Off-market
Clearance to deal obtained:    Yes

Johannesburg
30 June 2016

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

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