GLOBAL ASSET MANAGEMENT LIMITED - Signature of agreements relating to an issue of shares for cash to African Rainbow Capital Proprietary Limited

Signature of agreements relating to an issue of shares for cash to African Rainbow Capital Proprietary Limited

GLOBAL ASSET MANAGEMENT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/003192/06)
Share Code: GAM ISIN: ZAE000173498
("Global")


SIGNATURE OF AGREEMENTS RELATING TO A PROPOSED ISSUE OF SHARES FOR CASH
TO AFRICAN RAINBOW CAPITAL PROPRIETARY LIMITED (“ARC”)


Shareholders are referred to the announcement dated 29 June 2016 and are
advised that binding agreements have been signed in respect of the following
matters:

-     The subscription by ARC of 19 323 671 Global shares (constituting
      approximately 26.3% of Global’s shares following such subscription) at a
      subscription price of R2.07 per share, totaling R40 million.
-     The subscription by ARC of so many shares in Enviroprotek such that after
      such subscription ARC holds 46% of all the shares in Enviroprotek.
-     Certain shareholder arrangements in respect of Enviroprotek.

Shareholders are further advised that a binding voting pool agreement has been
entered into by ARC and certain shareholders of Global in respect of not less than
50% of Global’s shares. The voting pool agreement will allow the parties to the
voting pool agreement to maintain control of Global.

The transactions referred to above remain subject to the fulfilment of certain
suspensive conditions, including, among others, the waiver by Global shareholders
of any obligation to make a mandatory offer. Accordingly, a circular to
shareholder containing the necessary resolutions will be posted in due course.



Johannesburg
29 September 2016

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

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