SHERBOURNE CAPITAL LIMITED - Update to shareholders and renewal of cautionary announcement

Update to shareholders and renewal of cautionary announcement

Sherbourne Capital Limited
(Previously trading as IFCA Technologies Limited)
Incorporated in the Republic of South Africa
(Registration number 2006/030759/06)
Share code: SHB (Suspended)
ISIN: ZAE000165403
("SHB" or “the Company”)

Update to shareholders and renewal of cautionary announcement

Update to shareholders

On 5 March 2013, the JSE suspended trading in Sherbourne Capital Limited, consultation will be required
with the JSE as to whether the proposed strategy will result in the continued listing and suspension of
SHB being lifted by the JSE. If an acquisition of viable assets that satisfy the conditions for listing set out
in section 4 of the JSE Listings Requirements are not concluded by SHB and a circular approved by the
JSE by 5 June 2013, the listing of SHB will be terminated. The Directors have commenced with
negotiations to remedy the above situation and an announcement in this regard is imminent.

Renewal of cautionary announcement

Further to the announcement released on 28 January 2013, shareholders are advised that the Company
has entered into negotiations regarding a potential acquisition, which if successfully concluded may have
a material effect on the price of the Company’s securities. Accordingly, shareholders are advised to
exercise caution when dealing in the Company’s securities until a further announcement is released.

Sandton
11 March 2013
Designated Adviser: Bridge Capital Advisors (Pty) Ltd

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