Dealing in Zeder securities by an associate of a director Zeder Investments Limited Incorporated in the Republic of South Africa Registration number: 2006/019240/06 JSE share code: ZED ISIN number: ZAE000088431 (“Zeder”) DEALING IN ZEDER SECURITIES BY AN ASSOCIATE OF A DIRECTOR In compliance with rules 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information is disclosed relating to dealing in Zeder securities by an associate of a director: NAME OF DIRECTOR N Celliers COMPANY OF WHICH I AM A DIRECTOR Zeder STATUS:EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary OPTION STRIKE PRICE R2.57 NUMBER OF OPTIONS EXERCISED 437 743 TOTAL RAND VALUE OF OPTIONS R1 124 999.51 VESTING DATE OF OPTIONS 20 April 2014 PERIOD OF EXERCISE The director has a 30-day period from the vesting date during which options can be exercised NAME OF ASSOCIATE Norman Celliers Trust RELATIONSHIP WITH DIRECTOR Director is a trustee of the associate NATURE OF TRANSACTION Acquisition of shares in Zeder through the exercise of options (Off-market transaction) NATURE AND EXTENT OF INTEREST IN Indirect, Non-beneficial THE TRANSACTION CLEARANCE OBTAINED Yes Clearance to deal in these shares was obtained in accordance with rule 3.66 of the JSE Limited Listings Requirements. Stellenbosch 25 April 2014 Sponsor PSG Capital Date: 25/04/2014 10:35:00 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.