AFROCENTRIC INVESTMENT CORP LIMITED - Dealings in securities

Dealings in securities

AFROCENTRIC INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT, ACTP
ISIN: ZAE000078416, ZAE000082269
(“AfroCentric” or “the Company”)

DIRECTORS DEALINGS ANNOUNCEMENT


The principal Founders of AfroCentric agreed that certain BEE
shareholders of the company be entitled to exchange one
AfroCentric ordinary share held by them for one AfroCentric
Preference share held by the Founders at the original
Preference Share subscription price.


This exchange could only take place on the Redemption Date of
the Preference Shares being 31 December 2013. The exchange was
due for implementation on the first day following 31 December
2013 but, given the commencement of the Company’s closed
period, it was agreed to defer the exchange until the interim
results of Afrocentric had been released, which interim
results were released on 24 March 2014.


Accordingly the exchange was implemented on 24 March 2014.


In compliance with paragraphs 3.63 to 3.74 of the Listings
Requirements of the JSE Limited, the following information is
disclosed:


Name of Director        :   Joe Madungandaba
Date of transaction     :   24 March 2014
Nature of transaction   :   Off-market net receipt of shares
                            as referred to above
Class of security       :   Ordinary Shares
Number of securities    :   8 856 607
Trade price             :   91 cents per share
Value of transaction    :   R8 059 512
Nature of interest      :   Indirect beneficial
                            through Community Investment
                            Holdings where J Madungandaba is
                            currently a director.
Clearance obtained      :   Yes




Name of Director        :   JM Kahn
Date of transaction     :   24 March 2014
Nature of transaction   :   Off-market net transfer of shares
                            as referred to above
Class of security       :   Ordinary Shares
Number of securities    :   2 437 094
Trade price             :   91 cents per share
Value of transaction    :   R2 217 756
Nature of interest      :   Direct Beneficial
Clearance obtained      :   Yes


Name of Director        :   MI Sacks
Date of transaction     :   24 March 2014
Nature of transaction   :   Off-market net transfer of shares
                            as referred to above.
Class of security       :   Ordinary Shares
Number of securities    :   2 437 094
Trade price             :   91 cents per share]
Value of transaction    :   R2 217 756
Nature of interest      :   Direct Beneficial
Clearance obtained      :   Yes


Name of Director        :   JM Kahn
Date of transaction     :   24 March 2014
Nature of transaction   :   Off-market net transfer of shares
                            as referred to above
Class of security       :   Ordinary Shares
Number of securities    :   1 279 704
Trade price             :   91 cents per share
Value of transaction    :   R1 164 530
Nature of interest      :   Indirect non - beneficial
                            through Eagle Creek Investments
                            and for whom JM Khan is
                            acting as a custodian for BEE
                            beneficiaries
Clearance obtained      :   Yes




Name of Director        :     MI Sacks
Date of transaction     :     24 March 2014
Nature of transaction   :     Off-market net transfer of shares
                              as referred to above
Class of security       :     Ordinary Shares
Number of securities    :     1 279 703
Trade price             :     91 cents per share
Value of transaction    :     R1 164 530
Nature of interest      :     Indirect non - beneficial
                              through Eagle Creek Investments
                              and for whom MI Sacks is
                              acting as a custodian for BEE
                              beneficiaries
Clearance obtained      :     Yes


Johannesburg
26 March 2014

Sponsor
Sasfin Capital, a division of Sasfin Bank Limited

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