Acquisition Of Shareholding In Capespan Group Limited And Cautionary Announcement ZEDER INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) Registration number: 2006/019240/06 Share Code: ZED ISIN Number: ZAE000088431 ("Zeder" or “the Company”) ACQUISITION OF SHAREHOLDING IN CAPESPAN GROUP LIMITED AND CAUTIONARY ANNOUNCEMENT 1. INTRODUCTION Shareholders are hereby advised that Zeder, acting through its wholly owned subsidiary, Zeder Financial Services Limited, has reached agreement with Total Produce plc (“Total Produce”) on 16 April 2013 (“the Agreement”), to acquire the entire shareholding held by Total Produce in Capespan Group Limited (“Capespan”) (“the Acquisition”). Following the aforementioned Acquisition, Zeder will hold 226 806 385 ordinary shares in Capespan, equating to approximately 71.1% of the Capespan’s total issued ordinary share capital net of treasury shares. 2. THE BUSINESS OF CAPESPAN Capespan is a global fruit procurement company and is South Africa’s biggest fruit exporter. It invests in and manages a portfolio of companies offering a range of quality products, value-added products and related services in fresh produce and logistics internationally. 3. RATIONALE FOR THE ACQUISITION Zeder is an investment holding company that mainly invests in food, beverage and agricultural companies, where Zeder can directly or indirectly add value. The Acquisition allows Zeder to grow its holdings in line with the aforementioned strategy. 4. CLASSIFICATION OF THE TRANSACTION The Acquisition is classified as a category 2 transaction in terms of the Listings Requirements of the JSE Limited. 5. DETAILS OF THE ACQUISITION 5.1. Purchase consideration The purchase consideration is in the amount of R258 million to be paid in cash by Zeder by Tuesday, 23 April 2013 against delivery of transfer documents. 5.2. Effective Date The effective date of the transfer of the Capespan shares in terms of the Acquisition will be five business days after the date of the Agreement, being Tuesday, 23 April 2013. 5.3. Conditions Precedent The Acquisition is not subject to any conditions precedent. 6. PRO FORMA FINANCIAL EFFECTS OF THE ACQUISITION As a result of the simultaneous release of the Acquisition announcement details by Zeder and Total Produce, the pro forma financial effects in relation to the Acquisition is still in the process of being finalised and is expected to be published during the course of today to Zeder shareholders. 7. CAUTIONARY ANNOUNCEMENT Shareholders are hereby advised to exercise caution when dealing in the Company’s securities until an announcement regarding the pro forma financial effects in relation to the Acquisition is made, which is expected during the course of today. Stellenbosch 17 April 2013 Sponsor and Corporate Adviser PSG Capital Date: 17/04/2013 08:03:00 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.