Trading Statement AFRICAN DAWN CAPITAL LIMITED Incorporated in the Republic of South Africa (Registration number: 1998/020520/06) Share code: ADW ISIN Code: ZAE000060703 (“Afdawn” or “the Company”) TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes aware that the financial results for the financial period to be reported on next will vary by 20% or more from those of the previous comparable period. Shareholders are hereby advised that a reasonable degree of certainty exists that for the six month period ended 31 August 2015, the Company will report basic earnings per share of 0.10 cents, being an increase of 108%, and a headline earnings per share of 0.10 cents, being an increase of 106%, as opposed to basic loss per share of 1.31 cents and headline loss per share of 1.76 cents published for the previous corresponding period, being the six month period ended 31 August 2014. Shareholders are further advised that due to restatement of the financial results for the six month period ended 31 August 2014, that the restated basic loss per share and the restated headline loss per share is 1.24 cents for the six month period ended 31 August 2014. Full details of the restatement will be included in the financial results announcement for the six month period ended 31 August 2015. The financial information on which this trading statement is based has not been reviewed and reported on by the Company’s auditor. The financial results for the six months ended 31 August 2015 are expected to be published on 22 December 2015. 21 December 2015 Cape Town Designated Advisor PSG Capital Date: 21/12/2015 01:55:00 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.