Intended dealing in African Dawn Capital Limited shares by associates of directors African Dawn Capital Limited Incorporated in the Republic of South Africa (Registration Number: 1998/020520/06) JSE share code: ADW ISIN: ZAE000060703 (“Afdawn” or the “Company") INTENDED DEALING IN AFRICAN DAWN CAPITAL LIMITED SHARES BY ASSOCIATES OF DIRECTORS Shareholders are hereby advised that the Afdawn rights offer will be closing after 28 February 2014 and Afdawn will be entering into a closed period in anticipation of its financial results for the year ended 28 February 2014. Accordingly, in compliance with rules 3.63 to 3.74 of the JSE Limited’s Listings Requirements, the following information relating to the intended dealing in securities by Afdawn directors pursuant to the associates of Afdawn directors following their rights entitlement during the Afdawn rights offer and underwriting of the Afdawn rights offer by Vaalmac Investments Proprietary Limited, being an associate of a director, is disclosed: 1. NAME OF DIRECTOR JS van der Merwe STATUS:EXECUTIVE/NON-EXECUTIVE Non-executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary INTENDED DATE OF TRANSACTION On or about 4 April 2014 CENTS PER SHARE 8 NUMBER OF SECURITIES TRANSACTED 11 428 572 (1) 50 000 000 (2) TOTAL RAND VALUE OF SECURITIES R914 285.76 (1) R4 000 000.00 (2) NAME OF ASSOCIATE Vaal Mac Investments Proprietary Limited RELATIONSHIP WITH DIRECTOR Director is a shareholder and director of the associate NATURE OF TRANSACTION Subscription for shares pursuant to following its rights entitlement (On-market transaction) (1) Subscription for shares pursuant to underwriting and/or specific issue of a maximum of 50 000 000 rights offer shares (Off-market transaction) (2) NATURE AND EXTENT OF INTEREST IN Indirect, beneficial THE TRANSACTION CLEARANCE OBTAINED Yes 2. NAME OF DIRECTOR WJ Groenewald STATUS:EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary INTENDED DATE OF TRANSACTION On or about 4 April 2014 CENTS PER SHARE 8 NUMBER OF SECURITIES TRANSACTED 24 621 428 TOTAL RAND VALUE OF SECURITIES R1 969 714.25 NAME OF ASSOCIATE Shock Proof Investments 20 Proprietary Limited RELATIONSHIP WITH DIRECTOR Director is a shareholder and director of the associate NATURE OF TRANSACTION Subscription for shares pursuant to following its rights entitlement to a maximum of 24 621 428 rights offer shares and the placement of 3 750 000 rights offer shares (On-market transaction) NATURE AND EXTENT OF INTEREST IN Indirect, beneficial THE TRANSACTION CLEARANCE OBTAINED Yes Johannesburg 28 February 2014 Corporate Adviser and Transaction Designated Adviser PSG Capital Date: 28/02/2014 12:45:00 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.