Change in the Dividend Withholding Tax Rate Argent Industrial Limited (Registration number 1993/002054/06) (Incorporated in the Republic of South Africa) Share Code: ART ISIN: ZAE000019188 (“Argent” or “the company”) CHANGE IN THE DIVIDEND WITHHOLDING TAX RATE Shareholders are referred to the announcement by the Finance Minister Pravin Gordhan on 22 February 2017 during the delivery of the 2017 Budget, that the dividend withholding tax has been increased from 15% to 20%. The effective date of the new rate is in respect of all dividends paid on or after 22 February 2017. Further to the SENS announcement released by Argent on 17 November 2016, in respect of the unaudited condensed consolidated interim financial statements for the six months period ended 31 December 2016 which included a dividend declaration, shareholders are requested to refer to the amended dividend declaration paragraph included below: DIVIDEND Subsequent to 30 September 2016, an interim gross dividend of 10 cents per share was approved and declared by the Board of Directors for the six month period ending 30 September 2016 from income reserves. The following dates will apply to the abovementioned interim dividend: Last day to trade cum dividend: Monday, 20 March 2017 Trading ex-dividend commences: Wednesday, 22 March 2017 Record date: Friday, 24 March 2017 Dividend payment date: Monday, 27 March 2017 Share certificates may not be dematerialised or rematerialised between Wednesday, 22 March 2017, and Friday, 24 March 2017, both days inclusive. In determining the dividends tax (DT) of 20% to withhold in terms of the Income Tax Act (Act No. 58 of 1962), those shareholders who are not exempt from the DT will therefore receive a dividend of 8.00 cents per share net of DT. The company has 95 324 800 ordinary shares in issue and its income tax reference number is 9096/002/71/3. Ordinary shareholders who hold dematerialised shares will have their accounts at their CSDP or broker credited/updated on Monday, 27 March 2017. Umhlanga 24 February 2017 Sponsor: PSG Capital Proprietary Limited Date: 24/02/2017 03:28:00 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.