DSBP - Discovery Holdings Limited - Issue of R800 million of Discovery B

DSBP - Discovery Holdings Limited - Issue of R800 million of Discovery B        
Preference Shares                                                               
Discovery Holdings Limited                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1999/007789/06)                                           
ISIN: ZAE000158564   Code: DSBP                                                 
("Discovery" or "the Company")                                                  
ISSUE of R800 MILLION OF DISCOVERY B PREFERENCE SHARES                          
The Directors of Discovery wish to advise its shareholders of the results of    
the offer to investors via private placement, to subscribe for an issue of      
non-cumulative, non-participating, non-convertible preference shares ("B        
Preference Shares"), the terms of which were outlined in the abridged pre-      
listing statement dated 2 August 2011.                                          
The investor response to the private placement has exceeded demand              
expectations, and in light of the diversification benefits offered by the B     
Preference Shares, together with the growth opportunities presently             
available to the Discovery Group, the Directors have elected to accept the      
applications received via such private placement and to issue B Preference      
Shares amounting to R800 million. Investors that participated via the           
private placement process have been advised of their full allocations.          
Discovery will therefore issue 8 million B Preference Shares, denominated in    
South African Rands, at an issue price of ZAR100 each. The B Preference         
Shares will be listed on the JSE Securities Exchange South Africa under the     
abbreviated short name "DSY B PREF" with alpha code "DSBP" in the               
"Specialist Securities" - Preference Share sector of the market, and will       
commence trading on Monday, 15 August 2011.                                     
Sandton                                                                         
10 August 2011                                                                  
Lead arranger, joint advisor, joint sponsor and joint book runner               
Investec Bank Limited                                                           
Joint advisor, joint sponsor and joint book runner                              
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Corporate law advisors                                                          
Edward Nathan Sonnenbergs Inc.                                                  
Date: 10/08/2011 13:49:01 Supplied by www.sharenet.co.za                     
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