DISTRIB. AND WAREHOUSING NETWORK LD - Finalisation Announcement

Finalisation Announcement

Distribution and Warehousing Network Limited
(Incorporated in the Republic of South Africa)
(Registration number 1984/008265/06)
Share code: DAW ISIN code: ZAE000018834
(”DAWN” or the “Company”)

FINALISATION ANNOUNCEMENT

Shareholders are referred to the announcements dated 18 August 2014 and 15 September 2014, in
relation to a category 1 acquisition of a 51% indirect interest in the building manufacturing companies
of DAWN (“the Watertech Companies”) by Grohe Luxembourg Four S.A. (“Grohe”), together with a
call option in favour of Grohe to acquire an additional 24.1% indirect shareholding in the Watertech
Companies from DAWN after a 10 year period, and if such option is exercised by Grohe, or if Grohe's
indirect shareholding has otherwise increased to 75.1%, the option for DAWN to sell its remaining
24.9% indirect interest in the Watertech Companies to Grohe (“the Transaction”).

Shareholders are advised that Competition Commission approval for the Transaction has been
granted without any conditions.

As all conditions precedent as set out in the circular to shareholders dated 18 August 2014, have now
been fulfilled, the agreement relating to the Transaction has become unconditional in accordance with
its terms. The closing date of the Transaction will be 31 October 2014.

24 October 2014
Johannesburg


Corporate Advisor                                    Ongoing Sponsor to
and Transaction                                      DAWN
Sponsor
PricewaterhouseCoopers                               Deloitte & Touche
Corporate         Finance                            Sponsor Services
Proprietary Limited                                  Proprietary Limited

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