Finalisation Announcement In Respect Of The Share Consolidation And Share Conversion VILLAGE MAIN REEF LIMITED (Incorporated in the Republic of South Africa) (Registration Number 1934/005703/06) Share code: VIL ISIN: ZAE000154761 (“VMR” or “the Company”) FINALISATION ANNOUNCEMENT IN RESPECT OF THE SHARE CONSOLIDATION AND SHARE CONVERSION Shareholders are referred to the announcements released on SENS on 22 August 2014, 10 September 2014 and 19 September 2014 regarding a consolidation of the authorised and issued share capital of the Company ("Share Consolidation") and the conversion of the authorised and issued share capital of the Company from par value shares to no par value shares ("Share Capital Conversion") ("Announcements"). The Share Consolidation and Share Capital Conversion are collectively referred to as the Transactions. The Company is pleased to announce that the special resolutions relating to the Transactions have been accepted and placed on file by the Companies and Intellectual Property Commission (“CIPC”). Shareholders are reminded of the following salient dates in terms of the Share Consolidation and Share Capital Conversion. 2014 Finalisation announcement relating to the Share Consolidation and Share Capital Conversion released on SENS on Thursday, 23 October Finalisation announcement relating to the Share Consolidation and Share Capital Conversion published in the press on Friday, 24 October Last day to trade under the present share capital in order to be recorded as a shareholder on Friday, 31 October Trading in shares in the new consolidated no par value share capital under the new ISIN (ISIN: ZAE000192555) commences on Monday, 3 November Record Date to determine those shareholders whose shares will be subject to the Share Consolidation and Share Capital Conversion on Friday, 7 November Forms of surrender for new certificates to be received by the Transfer Secretaries (in order for new certificates reflecting the Share Consolidation and Share Capital Conversion to be posted on or about 10 November 2014) by 12:00 on Friday, 7 November Dematerialised shareholders will have their accounts at their CSDP or broker updated on Monday, 10 November Replacement share certificates posted to certificated shareholders, by registered post, provided their existing share certificates are surrendered by 12:00 on the Share Consolidation Record Date (failing which, within five business days after receipt of such existing share certificates) on or about Monday, 10 November Notes: 1. Shareholders may not dematerialise or rematerialise their pre-consolidated shares after Friday, 31 October 2014. 23 October 2014 Johannesburg Sponsor Bravura Capital (Pty) Ltd Attorneys to VMR Edward Nathan Sonnenbergs Incorporated Date: 23/10/2014 09:25:00 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.