HOSKEN CONSOLIDATED INVESTMENTS LIMITED - Restructure of HCIs gaming businesses

Restructure of HCI’s gaming businesses

HOSKEN CONSOLIDATED INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(Share code: HCI ISIN: ZAE000003257)

(“HCI”)



RESTRUCTURE OF HCI’s GAMING BUSINESSES

HCI currently holds its interests in the gambling industry through two listed companies, Tsogo Sun
Holdings Limited (“Tsogo”) and Niveus Investment Limited (“Niveus”). Following a review of these
operations and the group’s future business plans, HCI has decided to consolidate the group’s gaming
interests under Tsogo.

Accordingly Shareholders are referred to the announcements released on SENS by Tsogo and Niveus,
both subsidiaries of HCI, wherein Niveus has accepted an indicative offer from Tsogo for the sale of all
its interests in Vukani Gaming Corporation Proprietary Limited (“Vukani”) and Galaxy Gaming and
Entertainment Proprietary Limited (“Galaxy”) to Tsogo for a purchase consideration consisting of
160 million ordinary shares (“Share Consideration”) in the issued share capital of Tsogo for a total value
of approximately R4,648 billion, calculated based on the volume weighted average trading price of the
Consideration Shares for the 30 trading days prior to the date of this announcement.

Vukani is the largest operator of Limited Payout Machines (“LPMs”) in South Africa and Galaxy is a
leading operator of Bingo facilities. In addition, Galaxy is also the majority owner of The Grand Oasis
casino in Kuruman.

The transaction is a related party transaction and is subject to a number of conditions precedent and
regulatory approvals, including a due diligence by Tsogo and a fair and reasonable report. Shareholders
are referred to the detailed SENS announcements by Niveus and Tsogo.



Categorisation

The transaction is a category 2 transaction in terms of the JSE Listings Requirements and accordingly
does not require approval by HCI shareholders.




Cape Town

14 December 2016

Financial advisor and Sponsor

Investec Bank Limited

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