Elite Transaction and Candlestick Transaction: Conditions Precedent Fulfilled AFRICAN DAWN CAPITAL LIMITED Incorporated in the Republic of South Africa (Registration number: 1998/020520/06) Share code: ADW ISIN Code: ZAE000060703 (“Afdawn” or “the Company”) ELITE TRANSACTION AND CANDLESTICK TRANSACTION: CONDITIONS PRECEDENT FULFILLED Shareholders of Afdawn are referred to the detailed announcements released by the Company on SENS on 7 December 2015, 22 January 2016 and 28 June 2016 relating to the proposed disposal by Afdawn of its 100% shareholding in Elite Group Proprietary Limited, African Dawn Property Transfer Finance 1 Proprietary Limited and African Dawn Property Transfer Finance 2 Proprietary Limited, currently wholly-owned subsidiaries of Afdawn, to Dzothe Finance Solutions Proprietary Limited (“Elite Transaction”), and to the announcement dated 11 April 2016 relating to the disposal by Candlestick Park Investments Proprietary Limited, a wholly owned subsidiary of Afdawn, of the rental enterprise as a going concern to SJJMC Property Proprietary Limited (“Candlestick Transaction”)(collectively referred to as “the Transactions”). Shareholders are hereby advised that all the conditions precedent in respect of the Transactions have been fulfilled and accordingly, the Transactions have become unconditional and will be implemented in accordance with their terms. 20 October 2016 Cape Town Sponsor and Corporate Advisor PSG Capital Proprietary Limited Date: 20/10/2016 05:10:00 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.