Fulfillment of conditions precedent SEARDEL INVESTMENT CORPORATION LIMITED (Incorporated in the Republic of South Africa) Registration number: 1968/011249/06 N-Shares share code: SRN; Ordinary Shares share code: SER ISIN: ZAE000030144; ISIN: ZAE000029815 (“Seardel” or “the Company”) FULFILLMENT OF CONDITIONS PRECEDENT - SMALL RELATED PARTY TRANSACTION 1. INTRODUCTION Seardel shareholders (“Shareholders”) are referred to the announcement dated 28 August 2014 (the “Announcement”) regarding the small related party transactions whereby Sabido Investments Proprietary Limited (“Sabido”), a subsidiary of Seardel, entered into agreements for the acquisition of shares in Longkloof Limited and Crystal Brook Distribution Proprietary Limited, from related party companies, (the Transactions”), the detail of which is set out in the Announcement. 2. FULFILLMENT OF CONDITIONS PRECEDENT Shareholders are hereby advised that all the conditions precedent to the Transactions have now been fulfilled and that the Transactions have become unconditional. Cape Town 17 September 2014 Transaction Advisor and Sponsor Investec Bank Limited Corporate Law Advisor Tabacks and Associates Proprietary Limited Independent Professional Expert BDO Corporate Finance Proprietary Limited Date: 17/09/2014 03:22:00 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.