Acquisition of shares in Trans Hex Group Limited RECM and Calibre Limited (Incorporated in the Republic of South Africa) Registration number 2009/012403/06 Preference Share Code: RACP ISIN: ZAE000145041 ("RAC" or "the Company") ACQUISITION BY RAC OF 24.99% OF THE SHARES IN TRANS HEX GROUP LIMITED Introduction On 25 September 2014, the Company acquired a further 10.1% interest (“the Acquisition”) in Trans Hex Group Limited (“Trans Hex”), bringing the aggregate interest of RAC and the total interest acquired by RAC, within the past 12 month period, to 24.99% of the total issued ordinary share capital of Trans Hex (“the Aggregated Acquisitions”). The Acquisition was concluded on market. Description of the business of Trans Hex Trans Hex’s main business revolves around the exploration, mining and marketing of diamonds in South Africa and Angola. The flagship operation, Baken Mine, is situated on the banks of the lower Orange River approximately 60 km from Alexander Bay. In addition to their interest in Baken Mine, Trans Hex also has operations in the Richtersveld and holds a 33% stake in Sociedade Mineira Luana (Somiluana), a fully operational alluvial mine in Angola, where Trans Hex is the appointed mining operator. Rationale for the Acquisition RAC and Trans Hex are partners on the possible Namaqualand Mines transaction. Given RAC's significant commitment to this transaction, it was deemed strategically important to increase the Company's stake in Trans Hex to more than 20%. Effective date The effective date of the Acquisition was 25 September 2014. Purchase consideration The aggregate consideration paid in respect of the Aggregated Acquisitions of the 24.99% of Trans Hex is a cash amount of R93.7 million. Classification of the transaction The Aggregated Acquisitions are classified collectively as a Category 2 transaction in terms of section 20.16, as read with section 9.11 of the Listings Requirements of the JSE Limited (“Listings Requirements”). Pro forma financial effects In line with the accounting policy of RAC, as an investment entity, the Aggregated Acquisitions are accounted for initially at cost and will be fair valued at the end of the reporting period. As such, neither the Acquisition nor the Aggregated Acquisition have any effect on the net asset value, earnings or headline earnings per share of RAC at the effective date. Accordingly, in line with paragraph 9.15(d) and (e) of the JSE Listings Requirements, no pro-forma financial effects are shown for the Acquisition. Cape Town 29 September 2014 Sponsor Questco (Pty) Ltd Date: 29/09/2014 01:16:00 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.