Share Consolidation Finalisation Announcement 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”) SHARE CONSOLIDATION FINALISATION ANNOUNCEMENT Shareholders of Afdawn are referred to the circular issued by the Company on 16 September 2016 (“Circular”) relating to, inter alia, the proposed consolidation of the Company’s share capital on a 40 to 1 basis (“Consolidation”) and to the subsequent announcement released on SENS on 18 October 2016 advising shareholders that the special resolution relating to the Consolidation was passed by the requisite majority of Afdawn shareholders at the general meeting of the Company (“Special Resolution”). Shareholders are advised that the Special Resolution was registered with the Companies and Intellectual Property Commission on 11 November 2016 and, accordingly, the salient dates and times of the Consolidation, as previously published on SENS and set out in the Circular, will be amended as set out below. THE SALIENT DATES AND TIMES OF THE CONSOLIDATION: Date 2016 Last day to trade in existing shares on the JSE prior Tuesday, 29 November to the Consolidation Trading in consolidated shares under the new ISIN Wednesday, 30 November ZAE000223194 commences on Announcement regarding allocation payments for Thursday, 1 December fractions of shares released on SENS on Record date for the Consolidation at the close of Friday, 2 December business on Dematerialised shareholders will have their accounts at Monday, 5 December their CSDP or broker updated and receive fraction allocation payments on Date of issue of new replacement share certificates, Monday, 5 December provided that the old share certificates have been lodged by 12:00 on Friday, 2 December 2016, on or about (share certificates received after this time will be posted within 5 business days of receipt) Notes: 1. All times quoted above are local South African times. 2. No dematerialisation or rematerialisation of shares may take place after Tuesday, 29 November 2016. 3. Shares in consolidated form may be dematerialised or rematerialised from Monday, 5 December 2016. 17 November 2016 Cape Town Sponsor and Corporate Advisor PSG Capital Proprietary Limited Date: 17/11/2016 09:47:00 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.