GRAND PARADE INVESTMENTS LIMITED - Sunint/Granprade-Joint Announcement - Update Re To SILS Acquisition Of A Material Shareholding In GPI Slots Pty Ltd

Sunint/Granprade-Joint Announcement - Update Re To SIL´S Acquisition Of A Material Shareholding In GPI Slots Pty Ltd

SUN INTERNATIONAL LIMITED                               GRAND PARADE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)          Incorporated in the Republic of South Africa)
(Registration number: 1967/007528/06)                   (Registration Number 1997/003548/06)
Share code: SUI                                          Share code: GPL
ISIN: ZAE000097580                                       ISIN: ZAE000119814
("SIL")                                                  ("GPI")


JOINT ANNOUNCEMENT - UPDATE RELATING TO SIL´S ACQUISITION OF A MATERIAL SHAREHOLDING IN
GPI SLOTS PROPRIETARY LIMITED ("GPI SLOTS") FROM GPI

SIL and GPI shareholders are referred to the circulars issued by SIL and GPI to their respective shareholders
on 21 July 2014, detailing the agreement reached between SIL and GPI in terms of which SIL agreed to
acquire, on a phased investment basis, up to a 70% equity interest in GPI Slots, as well as to the joint
announcement released on the Stock Exchange News Service on 5 April 2016 wherein shareholders were
advised that SIL had acquired up to a 50.1% equity interest in GPI Slots.

SIL and GPI are now pleased to announce that all the outstanding conditions precedent to the acquisition
by SIL of a further 19.9% equity interest in GPI Slots have been fulfilled and, accordingly this acquisition
has been implemented.

The acquisition consideration was based on an equity value of GPI Slots, determined by applying a 7.5
times EBITDA multiple to the actual GPI Slots EBITDA for the year ended 30 June 2016. The acquisition
consideration payable by SIL for the 19.9% equity interest in GPI Slots equaled R262.1 million.

This latest acquisition results in SIL’s interest in GPI Slots increasing to 70%, with GPI retaining a 30%
interest. The implementation of this acquisition concludes SIL’s phased investment into GPI Slots.


Sandton
17 November 2016

Sponsor to SIL
RAND MERCHANT BANK (a division of FirstRand Bank Limited)

Sponsor to GPI
PSG Capital

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