Suspension of listing BK One Limited Incorporated in the Republic of South Africa Registration Number: 2011/008103/06 Preference Share Code: BK1P ISIN: ZAE000161352 (“BK One” or “the Company”) Suspension of listing BK One shareholders are advised that the board of directors of BK One (“the board”) has initiated discussions with the JSE Limited (“JSE”) regarding the suspension of the listing of BK One’s preference shares on the JSE (“the suspension”). In this regard, shareholders are referred to BK One’s annual financial statements for the period ended 28 February 2015 (“annual financial statements”), the operational update and cautionary announcement and the trading statement released on SENS on 7 October 2015 and 16 October 2015 respectively. The board in consultation with the Company’s auditors, legal advisors and sponsor, have now determined that they are not in a position to release the Company’s interim results for the six months ended 31 August 2015 (“interim results”) on a “going concern” basis due to the risks as fully set out in the annual financial statements having materialised. This will result in the preparation of BK One’s interim results on a “liquidation” basis and as a result, BK One will not be in a position of comply with the requirements of IFRS. In addition, the following developments have taken place: 1. The Company’s three largest shareholders are unable to support the Company as the largest shareholder has been placed under administration in the Bailiwick of Guernsey and cannot make any funding decisions on any of it investments, the second largest shareholder of the Company is in the process of being dissolved (and its shares in the Company being distributed to several shareholders) and the third largest shareholder has indicated that they wish to disinvest from the Company. 2. The Company has, in close conjunction with the boards of its underlying investments, investigated several options to sell its shareholding in its underlying investments however having regard to the funding constraints being experienced by the said investments, the possibility of any such trade sale is presently remote. 3. The Company has furthermore restructured those parts of its operations that are capable of restructuring. These efforts have been finalised and include significant reduction of non- executive director fees, renegotiation of secretarial functions and the elimination of any expenses not deemed core to the Company’s function. 4. Negotiations have been on-going with the Company’s largest and significant creditor in order to settle the amount due to them through the issue of preference shares. The authority to issue such shares was however not supported by the Company’s preference shareholders at the most recent Annual General Meeting and as such, this alternative is no longer an option. This has further constrained the Company’s ability to raise funds, such ability already being heavily constrained by the issues being experienced by shareholders and funders of the Company and its underlying investments. 5. Until recently, the Company had made significant progress in securing a third party guarantee for the claim of its largest trade creditor through the pledge of shares by its second largest preference shareholder however such shareholder chose to withdraw from these discussions at a late stage and has taken the decision to dissolve in the interim. The Company is of the view, and has obtained advice to this effect, that it has a possible claim against some of the directors and shareholders of the second largest shareholder, however the Company is not in a position to pursue any action in this regard as a result of the costs associated with protracted legal action. As a result of the developments referred to above the JSE has agreed to the suspension with immediate effect. Cape Town 27 November 2015 Sponsor Nedbank Corporate and Investment Banking Date: 27/11/2015 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.