Investment in Masimong Chemicals (Pty) Ltd SABVEST LIMITED (Incorporated in the Republic of South Africa) Registration number 1987/003753/06 ISIN: ZAE000006417 SBV Ordinary shares ISIN: ZAE000012043 SVN N Ordinary shares (“Sabvest”) INVESTMENT IN MASIMONG CHEMICALS (PTY) LTD Shareholders were advised in the interim results announcement released on the Stock Exchange News Service of the JSE Limited on 29 July 2015 that Sabvest had made an investment commitment of R45m which was expected to become unconditional in Q-4 2015. Sabvest is pleased to advise that it has acquired certain financial instruments in Masimong Chemicals (Pty) Ltd (“Chemicals”) for R45m. The returns on the instruments are linked to the market value of approximately 15m shares in Rolfes Holdings Limited (“Rolfes”) being just under 10% of the Rolfes shares in issue. Chemicals is wholly owned by Masimong Holdings (Pty) Ltd which is in turn owned by Messrs Michael Teke and Douglas Gain. Chemicals owns 32,4% of the Rolfes shares in issue and Michael Teke is a director of Rolfes. Sabvest advises further that it has also purchased 3m Rolfes shares (2%) directly for R9m. Rolfes is an acquisitive JSE-listed manufacturer and distributor of a diverse range of market leading high quality chemical products through its Agricultural, Water, Industrial and Food divisions. Sandton 12 November 2015 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 12/11/2015 02:45:00 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.