Results Of The Rights Offer 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") RESULTS OF THE RIGHTS OFFER Shareholders were referred to the declaration announcement relating to the Afdawn rights offer released on SENS on Thursday, 6 March 2014 and the circular dated Monday, 17 March 2014 detailing the terms of the rights offer. In terms hereof, Afdawn announced the raising of up to R40 654 732.40 from its shareholders by way of a partially underwritten renounceable rights offer of 508 184 155 new Afdawn ordinary shares (“Rights Offer Shares”) to qualifying Afdawn ordinary shareholders (“the Rights Offer”). The Rights Offer Shares were issued in the ratio of 1 Rights Offer Share for every 1 Afdawn ordinary share held on the record date, being Thursday, 20 March 2014 at a subscription price of 8 cents per Rights Offer Share. The results of the Rights Offer, which closed on Friday, 4 April 2014, are as follows: Number of % of Rights Rights Offer Offer Shares Shares Rights Offer Shares 508 184 155 100% available for subscription Rights Offer Shares 222 086 442 43.70% subscribed for by Afdawn shareholders Rights Offer Shares to be 50 000 000 9.84% issued to the Underwriter Total Rights Offer Shares 272 086 442 53.54% subscribed for by shareholders and issue to the Underwriter The Rights Offer was partially underwritten to the amount of 50 000 000 Rights Offer Shares by Vaalmac Investments Proprietary Limited (“the Underwriter”). The Underwriter will settle the issue price of the Rights Offer Shares to be issued to them, which they subscribed for pursuant to their underwriting obligations, in cash. For Afdawn shareholders who have subscribed for the Rights Offer Shares: i) share certificates will be posted to the holders of certificated Afdawn shares on or about Monday, 7 April 2014; and ii) the Central Securities Depository Participant (“CSDP”) or broker accounts of holders of dematerialised Afdawn shares will be credited with the Rights Offer Shares and debited with any payments due on Monday, 7 April 2014. Johannesburg 7 April 2014 Transaction Adviser and Transaction Designated Adviser: PSG Capital Date: 07/04/2014 09:00:00 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.