Voluntary Announcement – Restrucure Of Sekunjalo Technology Solutions Limited African Equity Empowerment Investments Limited (Formerly Sekunjalo Investments Limited) (Incorporated in the Republic of South Africa) Registration number 1996/006093/06 Share code: AEE ISIN: ZAE000195731 ("AEEI" or “the Company”) VOLUNTARY ANNOUNCEMENT – RESTRUCURE OF SEKUNJALO TECHNOLOGY SOLUTIONS LIMITED (“TSL”) Overview of restructure Shareholders are hereby advised that TSL, a subsidiary of AEEI has distributed a circular to TSL shareholders in order to, inter alia, restructure its share capital and change the name of TSL to Ayo Technology Solutions Limited (“Circular”). The rationale for the share capital restructure is that TSL has historically issued ordinary and "N" ordinary shares to shareholders, with different rights attached thereto. Accordingly, TSL wishes to consolidate its two classes of shares, the ordinary shares and "N" ordinary shares, into one class of shares, which consolidation is to be implemented by way of a scheme of arrangement in terms of section 114(1)(a) of the Companies Act No 71 of 2008 (“Companies Act”), proposed by the board between TSL and the TSL shareholders, including AEEI. The scheme requires an increase in the authorised share capital of TSL, as well as the conversion of the TSL shares from shares having a par value to no par value shares. Should the scheme be implemented, it will allow all the shareholders to participate in the future profits of TSL and have equal voting rights. Scheme participants, including AEEI will, if the scheme becomes operative and with effect from such date, receive, one no par value share for every one "N" ordinary share or ordinary share they hold in TSL. TSL has over the past five years shown consistent year on year growth and delivered strong operating profits for the 2016 financial year of R38 million, up by 36% (2015: R28 million). AEEI’s key strategic focus during 2016 and its Vision 2020 Vision, is to grow the business through continued organic growth and through acquisitions. AEEI also plan to list TSL in the short to medium term. Independent Experts Report In terms of the Companies Act, Nexia SAB&T Chartered Accountants Incorporated was appointed as the independent expert to prepare the fair and reasonable opinion in relation to the scheme. The independent expert has found the scheme to be fair and reasonable to TSL shareholders and has determined an indicative market value per TSL ordinary share prior to the scheme of R 2.73 per share. TSL have 202 151 960 shares in issue and this will not differ materially after the completion of the scheme. Circular and general meeting Copies of the Circular can be obtained at http://aeei.co.za/sekunjalo- technology-solutions-limited-circular-annexures/. The general meeting of TSL shareholders will be held at Quay 7, East Pier, Breakwater Boulevard, Victoria and Alfred Waterfront, Cape Town, South Africa at 09h00 on 27 February 2017. Cape Town 21 February 2017 Sponsor PSG Capital Date: 21/02/2017 12:00:00 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.