Notification in terms of section 122 of the Companies Act, 2008 (No 71 of 2008) and change in directors’ interests GLOBAL ASSET MANAGEMENT LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2002/003192/06) ("Global" or “the Company”) Share Code: GAM ISIN: ZAE000173498 NOTIFICATION IN TERMS OF SECTION 122 OF THE COMPANIES ACT, 2008 (NO 71 OF 2008) (“THE ACT”) AND CHANGE IN DIRECTORS’ INTERESTS Shareholders are advised of the restructure of the shareholding in Global and the resultant indirect dealings of directors in Global shares. In compliance with Section 122 of the Act and in accordance with Section 3.83(b) of the Johannesburg Stock Exchange’s (“JSE”) Listings Requirements, Global confirms that it has received notification in accordance with Section 122 of the Act as follows: (i) Insure Group Managers Limited (“Insure”) to the effect that Insure has distributed 10 976 579 shares in Global to its controlling shareholder Inshare Proprietary Limited (“Inshare”), comprising a 20.26% interest in the total issued ordinary shares of the Company. Accordingly Insure now holds 22 660 571 shares, comprising 41.84% in the issued ordinary shares of Global; Simultaneously with the above distribution of Global shares, Inshare has entered into a repurchase transaction of certain Inshare shares, settled by Global shares, as follows: (ii) Earthwize Recycling Proprietary Limited (“Earthwize Recycling”), a company wholly owned by Niels Penzhorn, a director of Global and shareholder in Inshare, has acquired 4 334 404 Global shares in settlement of a repurchase transaction of Inshare shares between Earthwize Recycling and Inshare amounting to an 8.00% beneficial interest in the securities of the Company; and (iii) Conceptual Technologies Africa Proprietary Limited (“Conceptual Technologies”), a company wholly owned by a family trust of Koos van Ettinger, a director of Global and shareholder in Inshare, has acquired 5 706 051 Global shares in settlement of a repurchase transaction of Inshare shares between Conceptual Technologies and Inshare amounting to a 10.53% beneficial interest in the securities of the Company. Whilst the above distribution and restructure of the Inshare shareholding by way of a repurchase transaction is not a trade in Global’s shares, it does lead to a small change in the shareholding of the above-mentioned directors. Accordingly, a dealings announcement in compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the Johannesburg Stock Exchange is set out below: Name of director: Niels Penzhorn Date of transaction: 30 June 2016 Name of company: Global Number of securities: 4 334 404 Class of securities: Ordinary shares Nature of transaction: Acquisition of shares pursuant to a restructuring above Global, as set out in paragraph (ii) above Price per share: R2.48 Nature of interest: Indirect beneficial Extent of interest: 8.00% Value of transaction: R10 749 322 How traded Off-market Clearance to deal obtained: Yes Name of director: Koos van Ettinger Date of transaction: 30 June 2016 Name of company: Global Number of securities: 5 706 051 Class of securities: Ordinary shares Nature of transaction: Acquisition of shares pursuant to a restructuring above Global, as set out in paragraph (iii) above Price per share: R2.48 Nature of interest: Indirect beneficial Extent of interest: 10.53% Value of transaction: R14 151 007 How traded Off-market Clearance to deal obtained: Yes Johannesburg 30 June 2016 Designated Advisor Arbor Capital Sponsors Proprietary Limited Date: 30/06/2016 04:02:00 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.