Change statement and Notice of AGM SEARDEL INVESTMENT CORPORATION LIMITED (Incorporated in the Republic of South Africa) Registration number 1968/011249/06 N-Ordinary Shares share code: SRN; Ordinary Shares share code: SER ISIN: ZAE000030144; ISIN: ZAE000029815 (“Seardel” or “the company”) CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING Change Statement Shareholders are advised that the company’s Integrated Annual Report, containing the reviewed consolidated condensed annual results for the year ended 31 March 2015 as well as the audited annual financial statements for the year ended 31 March 2015 was posted on the company’s website, www.seardel.co.za today, 29 September 2015. The audited annual financial statements contain the following modification to the reviewed consolidated condensed annual results for the year ended 31 March 2015 released on the Stock Exchange News Service of the JSE Limited on Thursday, 21 May 2015: PROFIT/(LOSS) PER SHARE Audited Annual Financial Description Reviewed Statements Difference 2015 Headline earnings (R'000) 160 644 169 378 8 734 Discontinued operations (R'000) (851) 7 883 8 734 Earnings per share Headline earnings (cents) 3.90 4.11 0.21 Discontinued operations (cents) (0.02) 0.19 0.21 Diluted earnings per share Headline earnings (cents) 3.90 4.11 0.21 Discontinued operations (cents) (0.02) 0.19 0.21 2014 Headline earnings (R'000) 844 (1 077) (1 921) Discontinued operations (R'000) 16 605 14 684 (1 921) Earnings per share Headline earnings (cents) 0.10 (0.12) (0.22) Discontinued operations (cents) 1.88 1.66 (0.22) Diluted earnings per share Headline earnings (cents) 0.09 (0.12) (0.21) Discontinued operations (cents) 1.83 1.62 (0.21) The modification arose as a result of the correct inclusion of the tax effect on the remeasurement of investment property to the headline earnings reconciliation. The annual financial statements were audited by the company’s auditors, Grant Thornton Inc., and their unmodified report is available for inspection at Seardel’s registered office. Notice of Annual General Meeting Notice is hereby given that the annual general meeting of the shareholders of the company will be held on Thursday, 29 October 2015 at 10:00 at the registered offices of the company, Suite 801, 76 Regent Street, Sea Point 8005 to transact the business as stated in the notice of annual general meeting forming part of the integrated report. Record Dates The Board of Directors of the company has determined that the record date for the purposes of determining which shareholders of the company are entitled to receive notice of the Annual General Meeting is Friday, 18 September 2015. The record date on which shareholders of the company must be registered as such in the company’s register of shareholders in order to participate in and vote at the annual general meeting is Friday, 23 October 2015. Cape Town 29 September 2015 Sponsors: Investec Bank Limited Date: 29/09/2015 05:05:00 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.