Update On Disposal Of Elite Group (Proprietary) Limited And Withdrawal Of Cautionary Announcement 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") UPDATE ON DISPOSAL OF ELITE GROUP (PROPRIETARY) LIMITED AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT 1. UPDATE ON DISPOSAL OF ELITE GROUP (PROPRIETARY) LIMITED Shareholders are referred to the SENS announcement dated 30 May 2014 (“the Announcement”), wherein shareholders were advised that the Company had entered into an agreement with Elite Group 1 Proprietary Limited (“the Purchaser” or “Elite Group 1”), in terms of which, if successfully implemented, Afdawn would dispose of 100% of the issued shares, claims and assets in Elite Group (Proprietary) Limited, a wholly-owned subsidiary of Afdawn to the Purchaser (“the Agreement”) (“the Elite Group Disposal”). Shareholders are hereby advised that certain of the suspensive conditions as set out in the Announcement have not been fulfilled and the Agreement has lapsed. Accordingly, the Agreement is no longer of any force or effect and the Elite Group Disposal will no longer be implemented by the Company. 2. WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT Shareholders are referred to the cautionary announcement included in the Announcement and are hereby advised that as the Elite Group Disposal to Elite Group 1 will no longer be implemented by the Company, caution is no longer required to be exercised by shareholders when dealing in their securities. Johannesburg 19 June 2014 Corporate Adviser and Transaction Designated Adviser PSG Capital Date: 19/06/2014 08:00:00 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.