BLACKSTAR GROUP SE - Disposal of investment

Disposal of investment

Blackstar Group SE
(Company number SE 4)
(registered as an external company with limited liability in the Republic of South Africa under
registration number 2011/008274/10)
Share code: BCK
ISIN: GB00B0W3NL87
(“Blackstar” or “the Company”)


Disposal of investment

Blackstar is pleased to announce that it has disposed of its listed services derivative investment via a
series of on-market sales for cash consideration of R152 million, being a premium of 4.7% to its
carrying value as reported on 31 August 2012, being the most recently published intrinsic net asset
value for the investment.

Blackstar generated a 2.28 times return on investment in South African Rand and 2.04 times money
on investment in Pounds Sterling, which equates to a 16% IRR and 14% IRR, respectively, over the 6
year and 4 month holding period.

The majority of the disposal proceeds will be applied against the Investec Bank Limited debt facility
that was taken out in January 2012. Blackstar will continue to focus its attention on unlocking further
value from its current portfolio of investments and is now well positioned to pursue a range of
interesting new investment opportunities.

Andrew Bonamour, director of Blackstar, commented, “The investment was held through a volatile
and turbulent period which included the global financial crisis and the Board is pleased that it has
been able to generate a good return on this investment for its shareholders during this period”

05 October 2012


For further information, please contact:

Blackstar Group SE                                  Bryan Moyer /                   + 356 2144 6377
                                                   Lesley Micallef

Liberum Capital Limited                          Chris Bowman /                 +44 (0) 20 3100 2222
                                               Christopher Britton

PSG Capital (Pty) Limited                       David Tosi / Willie              +27(0) 21 887 9602
                                                       Honeyball

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