Finalisation Announcement Zeder Investments Limited (Incorporated in the Republic of South Africa) Registration Number: 2006/019240/06 Share Code: ZED ISIN Code: ZAE000088431 (“Zeder”) Capespan Group Limited (Incorporated in the Republic of South Africa) Registration Number: 2008/016971/06 (“Capespan”) FINALISATION ANNOUNCEMENT Shareholders are referred to the joint announcement published by Zeder and Capespan on SENS and on their respective websites (www.zeder.co.za and www.capespangroup.com) on 25 May 2015, and in the press on 26 May 2015, advising that, inter alia, a circular relating to the scheme of arrangement pursuant to which Zeder has made an offer to acquire all the issued shares in Capespan (excluding treasury shares) not already held by Zeder and members of Capespan’s management (“Scheme”), was posted to the Capespan shareholders on 25 May 2015 (“Scheme Circular”). Shareholders are further referred to the joint announcement published by Zeder and Capespan on SENS and on their respective websites on 24 June 2015, and in the press on 25 June 2015, advising that the resolution required for the approval and the implementation of the Scheme had been approved by the shareholders of Capespan. Shareholders are hereby advised that the conditions precedent, as detailed in the Scheme Circular, have now been fulfilled and that the Scheme has become unconditional. Accordingly, the Scheme will be implemented on 27 July 2015. Stellenbosch 9 July 2015 Transaction advisor and sponsor to Zeder: PSG Capital Proprietary Limited Date: 09/07/2015 05:20:00 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.