ISA HOLDINGS LIMITED - Cautionary Announcement

Cautionary Announcement

ISA Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/009608/06)
Share code: ISA ISIN: ZAE000067344
(“ISA” or “the Company”)


CAUTIONARY ANNOUNCEMENT


Shareholders are advised that the board of directors of ISA (“the Board”) has received a non-binding
expression of interest for the shares in ISA, which expression of interest will be considered by the Board
and which, if successfully concluded, may have a material effect on the price of the Company’s
securities.

Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until
a further announcement is made.


Johannesburg
24 March 2016

Designated Adviser
Merchantec Capital

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