TRP121: Notification of changes of beneficial interests in securities AFRICAN & OVERSEAS ENTERPRISES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1947/027461/06) JSE share code: AOO ISIN: ZAE000000485 JSE share code: AON ISIN: ZAE000009718 JSE share code: AOVP ISIN: ZAE000000493 (“AOE”) TRP121: NOTIFICATION OF CHANGES OF BENEFICIAL INTERESTS IN SECURITIES In compliance with section 122(3)(b) of the Companies Act 71 of 2008 (“the Companies Act”) and Regulation 121(2)(b) of the Companies Act Regulations, 2011 (“the Regulations”), shareholders are advised that AOE has received notifications from: - Brimstone Investment Corporation Limited (“Brimstone”) of the disposal by Brimstone of their entire beneficial interest in AOE’s “N” ordinary shares and ordinary shares (Brimstone previously held 25.02% of AOE’s total issued “N” ordinary shares and 20.33% of AOE’s total issued ordinary shares); - Lion of Africa Insurance Company Limited (“Lion of Africa”) of the disposal by Lion of Africa of their entire beneficial interest in AOE’s “N” ordinary shares (Lion of Africa previously held 11.32% of AOE’s total issued “N” ordinary shares); and - A consortium consisting of Geomer Investments Proprietary Limited, The Ceejay Trust, Gingko Trading Proprietary Limited and Gingko Investments No. 2 Proprietary Limited (collectively, “the Consortium”) of the acquisition by the Consortium of AOE “N” ordinary shares and AOE ordinary shares, such that the Consortium now holds 81.07% of AOE’s total issued “N” ordinary shares and 33.87% of AOE’s total issued ordinary shares. The acquisition by the Consortium of the AOE ordinary and “N” ordinary shares referred to above has triggered the requirement in terms of the Companies Act, as read with the Regulations, for the Consortium to make a mandatory and comparable offer to AOE’s ordinary and “N” ordinary shareholders respectively. A further announcement in this regard will be released on SENS in due course. 21 April 2016 Sponsor Java Capital Date: 21/04/2016 05:16:00 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.