Section 122 - Increase in HCI shareholding SEARDEL INVESTMENT CORPORATION LIMITED (Incorporated in the Republic of South Africa) Registration number: 1968/011249/06 N-Shares share code: SRN; Ordinary Shares share code: SER ISIN: ZAE000030144; ISIN: ZAE000029815 (“Seardel” or “the Company”) NOTIFICATION IN TERMS OF SECTION 122 (3) OF THE COMPANIES ACT 71 OF 2008 (INCREASE IN SHAREHOLDING) In compliance with Section 122(3)(b) of the Companies Act 71 of 2008 and paragraph 3.83(b) of the Listings Requirements of the JSE Limited, shareholders are advised that notice has been received that Hosken Consolidated Investments Limited (“HCI”) has acquired a beneficial interest in the securities of the Company, such that its holds a beneficial interest of 81.2% of the issued Ordinary Share capital (net of treasury shares) and 89.3% of issued N-Share capital (net of treasury shares). The change in HCI’s beneficial interest in Seardel is as a result of the issue of 350 000 000 N-Shares to HCI as consideration for the acquisition of a 70% stake in HCI Invest 3 Holdco Proprietary Limited (which holds a 63.9% stake in Sabido Investments Proprietary Limited), the details of which were announced on SENS on 17 May 2013 and set out in the circular issued to shareholders dated 10 July 2013. Cape Town 4 October 2013 Sponsor to Seardel Investec Bank Ltd Date: 04/10/2013 10:39:00 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.