Delisting Announcement M Cubed Holdings Limited Incorporated in the Republic of South Africa Registration number: 1998/014568/06 Share code: MCU ISIN: ZAE000033353 ("m Cubed" or "the Company") DELISTING ANNOUNCEMENT 1. INTRODUCTION 1.1. Shareholders are advised that m Cubed made an application to the JSE Limited (“JSE”) on 27 August 2012 to delist the Company for the reasons set out below, which application has subsequently been approved by the JSE on 26 October 2012. 1.2. Accordingly the Company will no longer proceed with the application for (i) the reverse listing; (ii) the lifting of the suspension of m Cubed, and (iii) the mirror listing of m Cubed into a new entity, named Trinity Investment Holdings Limited (collectively “the Listing Process”), as set out in more detail in the announcements released on SENS on 21 December 2011 and 26 April 2012, respectively (“Previous Announcements”). 1.3. The purpose of this announcement is to advise shareholders on the rationale as well as the salient times and dates for the delisting. 2. RATIONALE FOR DELISTING 2.1. m Cubed began the Listing Process in September 2011. Given the length of time it has taken to complete the Listing Process, m Cubed has decided not to proceed with the Listing Process at this stage. 2.2. The reason for the delay in the completion and implementation of the Listing Process is that m Cubed has not been able to meet certain regulatory requirements in order to implement the Listing Process of the JSE. 2.3. In light of m Cubed’s current status as a JSE cash shell, it cannot implement the proposed acquisitions (as set out in the Previous Announcements) without obtaining shareholder and JSE approval. These transactions are incurring expenses and interest charges which, given the delay, the Company cannot continue to justify to shareholders. 2.4. The m Cubed board of directors has therefore taken the view that it is in the interest of shareholders to delist the Company. It is possible that m Cubed may seek a listing at a later stage, should the investments it has made justify same. It is the goal of the board to return significant value back to shareholders in the near term. 2.5. Accordingly the board of directors applied for the approval of the delisting which has been granted and will be implemented on the dates and times set out in paragraph 4 below. 3. POST DELISTING 3.1. Shareholders should note that after the delisting they will remain shareholders in the unlisted Company. 3.2. Post the delisting, m Cubed intends to consider alternative opportunities to return value back to shareholders. 4. SALIENT DATES AND TIMES The salient dates and times relating to the delisting are as follows: Tuesday, 30 October 2012 Finalisation Date for publication of delisting information Friday, 16 November 2012 Record Date for delisting Monday, 19 November 2012 Delisting Date at commencement of trade 30 October 2012 Cape Town Sponsor PSG Capital (Pty) Limited Date: 30/10/2012 05:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.