MICROMEGA HOLDINGS LIMITED - Statement by the Chairman of MICROmega

Statement by the Chairman of MICROmega

MICROmega Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/003821/06)
Share code: MMG ISIN: ZAE000034435
(“MICROmega”)


STATEMENT BY THE CHAIRMAN OF MICROmega



Shareholders are advised of the following statement by Mr D C King, Executive Chairman of MICROmega,
regarding speculation surrounding his 2013 tax settlement:

“There has been recent media speculation on my 2013 tax settlement following the suspension of senior
managers of SARS for allegedly operating a rogue intelligence unit that spied on senior politicians and
businessmen. I am named as one of the business people that were spied on.

It has been speculated that this alleged unlawful activity by SARS could put recently concluded tax
settlements at risk of being reviewed and set aside, mine included. The legal argument is that if SARS
obtained information unlawfully and such information was used to secure a settlement with me, then I could
apply to have my settlement set aside.

For the avoidance of doubt, and particularly for the benefit of MICROmega shareholders, I wish to make my
position clear. I will not be making an application to have my settlement reviewed and/or set aside for two
reasons:
1.   My settlement resulted from prolonged and robust litigation that was fully in the public arena. There
     was no information produced or used by SARS that was unlawfully gained and, in my opinion, the
     individuals I dealt with at SARS acted in good faith, both during and after my settlement negotiations. I
     consequently have no legal foundation to argue for the review and setting aside of my settlement; and
2.   Even if my legal team could make out a case for review I would not pursue it. I remain happy with my
     settlement and the opportunity that this created for me to lead a normal business and personal life.
     MICROmega has performed very strongly post-settlement and is continuing to do so. I am thoroughly
     enjoying having sufficient time and resources to invest in growing MICROmega in the coming years.

D C King”



Johannesburg
22 January 2015

Sponsor
Merchantec Capital

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