Results of the Rights Offer ECSPONENT LIMITED (Previously John Daniel Holdings Limited) Incorporated in the Republic of South Africa Registration number: 1998/013215/06 JSE Code: ECS - ISIN: ZAE000179594 ("Ecsponent" or "the Company") RESULTS OF THE RIGHTS OFFER The board of directors of the Company is pleased to announce that the rights offer as detailed in the circular to shareholders on 2 September 2014, ("Rights Offer") has been successfully subscribed for in the amount of R63 623 892 by existing shareholders, their renouncees and the underwriter. The Rights Offer closed on 19 September 2014. Ecsponent shareholders, or their renounces, applied for a total of 454 456 371 Rights Offer shares, including excess applications as follows: - Ecsponent Capital (RF) Limited ("ECL"), the underwriter, agreed to underwrite up to R45 000 000, resulting in ECL being issued 321 428 571 ordinary shares - Shareholders following their rights resulted in an issue of 132 704 627 ordinary shares, and - Shareholders subscribing for excess applications resulted in an issue of 323 173 additional ordinary shares. ECL now holds 66.1% of the issued share capital of Ecsponent. ECL furthermore agreed to provide a funding facility to Ecsponent up to R100 million less the proceeds of the rights offer convertible into ordinary shares in the Company at the Rights Offer price (“the Convertible Loan”). The Convertible Loan facility of R36 376 108 has been established. As advised in the Rights Offer Circular, certain directors have followed their rights in terms of the Rights Offer. The JSE has given permission to directors to exercise their rights due to the Rights Offer being conducted during a closed period. Details of ordinary shares issued to directors as a result of the exercise of their rights under the Rights Offer are set out below: Terence Gregory (Chief Executive Officer) Shareholding prior to the Rights Offer 16 380 943 shares Rights Offer shares issued 5 619 057 shares Price per share 14 cents Value of Rights Offer shares R786 668 Type and extent of interest (direct or indirect beneficial) Direct beneficial interest (0.62%) Shareholding post the Rights Offer 22 000 000 shares Dirk van der Merwe (Chief Financial Officer) Shareholding prior to the Rights Offer 10 224 158 shares Rights Offer shares issued 4 275 842 shares Price per share 14 cents Value of Rights Offer shares R598 618 Type and extent of interest (direct or indirect beneficial) Direct beneficial interest (0.475%) Shareholding post the Rights Offer 14 500 000 shares Keith Rayner (Non-executive Director) Shareholding prior to the Rights Offer 2 000 000 shares Rights Offer shares issued 714 285 shares Price per share 14 cents Value of Rights Offer shares R100 000 Type and extent of interest (direct or indirect beneficial) Direct beneficial interest (0.07%) Shareholding post the Rights Offer 2 714 285 shares Richard Connellan (Non-executive Director) Shareholding prior to the Rights Offer 1 142 857 shares Rights Offer shares issued 717 143 shares Price per share 14 cents Value of Rights Offer shares R100 400 Type and extent of interest (direct or indirect beneficial) Direct beneficial interest (0.08%) Shareholding post the Rights Offer 1 860 000 shares Details of the rights exercised by associates of directors are as follows: Brandon Topham (Non-executive Director) Name of associate Brat Trust Relationship to associate Trustee and beneficiary of trust Shareholding prior to the Rights Offer 1 142 857 shares Rights Offer shares issued 714 285 shares Price per share 14 cents Value of Rights Offer shares R100 000 Type and extent of interest (direct or indirect beneficial) Indirect beneficial interest (0.07%) Shareholding post the Rights Offer 1 857 142 shares CSDP or Broker accounts in respect of holders of dematerialised shares will be debited and updated with excess share allocations, if any, and share certificates or refund cheques, if applicable, will be posted to certificated shareholders by registered post on or about Thursday, 25 September 2014. 22 September 2014 Transaction sponsor Arcay Moela Sponsors Proprietary Limited Date: 23/09/2014 08:30:00 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.