Update Regarding The Elite Group Transaction And The Disposal Of The Greenoaks Property By Candlestick Park Investme African Dawn Capital Limited Incorporated in the Republic of South Africa (Registration Number: 1998/020520/06) JSE share code: ADW ISIN: ZAE000060703 (“Afdawn” or the “Company") UPDATE REGARDING THE ELITE GROUP TRANSACTION AND THE DISPOSAL OF THE GREENOAKS PROPERTY BY CANDLESTICK PARK INVESTMENTS Shareholders are referred to the SENS announcement dated 9 December 2015 relating to the proposed transaction in regards to Elite Group Proprietary Limited, a wholly-owned subsidiary of Afdawn (“Elite Transaction”) and to the SENS announcement dated 23 December 2015 relating to the disposal of the Greenoaks fixed property by Candlestick Park Investments Proprietary Limited, a wholly-owned subsidiary of Afdawn (“Candlestick Transaction”). Shareholders are hereby advised that both the Elite Transaction and the Candlestick Transaction (“the Transactions”) will constitute category 1 transactions in terms of the JSE Listings Requirements. Accordingly, a circular will be distributed to Afdawn shareholders in due course providing further information relating to the Transactions and convening a general meeting of Afdawn shareholders in order to obtain shareholder approval for the Transactions. Cape Town 22 January 2016 Corporate Adviser and Transaction Designated Adviser PSG Capital Date: 22/01/2016 04:05:00 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.