AFROCENTRIC INVESTMENT CORP LIMITED - Results of general meeting

Results of general meeting

AFROCENTRIC INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1988/000570/06)
JSE Code: ACT
ISIN: ZAE000078416
(“AfroCentric” or “the Company”)



RESULT OF GENERAL MEETING


1. INTRODUCTION

  AfroCentric shareholders (“Shareholders”) are referred to the announcements published by the
  Company on 30 September 2014 and 4 June 2015, as well as the circular dated 3 August 2015
  (“Circular”) regarding the subscription by Sanlam Life Insurance Limited, or its nominee, for shares in
  ACT Healthcare Assets Proprietary Limited (“AHA”), a wholly owned subsidiary of AfroCentric,
  representing 28.7% of the total issued share capital of AHA after such subscription for a cash amount
  of R703 million (“Sanlam Subscription”).

2. RESULTS OF GENERAL MEETING

  Shareholders are advised that at the general meeting of the Company held today, 7 September 2015
  (“General Meeting”), the resolutions required to give effect to the Sanlam Subscription, as set out in
  the notice convening the general meeting incorporated in the Circular, were passed by the requisite
  majority of Shareholders without modification as detailed below.

           Resolution              Number of      % of shares          % of    % of votes       % of votes
                                       shares        voted in        shares    carried for     against the
                                      voted in     person or      abstained           the       resolution
                                                            (1)          (1)                            (2)
                                    person or     by proxy                     resolution
                                     by proxy                                            (2)


   Ordinary resolution            341 823 688          61.66%        0.01%        100.00%           0.00%
   number 1 – Approval of the
   Sanlam Subscription

   Ordinary resolution
   number 2 - To allow a
   director and company           341 823 688          61.66%        0.01%        100.00%           0.00%
   secretary to do all such
   things and to sign all such
   documents as may be
   necessary to implement the
   resolution set out above



  Notes:

  1. Based on 554 377 328 shares in issue
  2. Based on 341 823 688 shares voted in person or by proxy

3. CONDITIONS PRECEDENT TO THE SANLAM SUBSCRIPTION

   Shareholders are referred to paragraph 2.3.1 of the Circular where the outstanding conditions
   precedent to the Sanlam Subscription were noted. Shareholders are advised that since the distribution
   of the Circular a number of conditions have been fulfilled including:
   -    the requisite Shareholder approval; and
   -    the necessary approval from the South African competition authorities.

   Shareholders will be informed in due course regarding the fulfillment or waiver of the remaining
   conditions precedent.

Johannesburg
7 September 2015

Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)

Corporate Advisor
Sinergi Corporate Advisory

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