BOWLER METCALF LIMITED - Disclosure of an Acquisition of Securities

Disclosure of an Acquisition of Securities

Bowler Metcalf Limited
(Incorporated in the Republic of South Africa)
(Registration number 1972/005921/06)
Share code: BCF     ISIN code: ZAE 000030797
(“Bowler” or “the company”)

DISCLOSURE OF AN ACQUISITION OF SECURITIES

In accordance with section 122 of the Companies Act No.71 of 2008, as amended
(“Companies Act”), and paragraph 3.83(b) of the Listings Requirements of the JSE,
shareholders are hereby advised of the following:

On 7 April 2017 Bowler Metcalf was advised that Investec Fund Managers SA (RF)
(Pty) Ltd acquired a beneficial interest in the securities of Bowler Metcalf such that
the total of all beneficial interest of the securities of that class held by it increased
from 4.04% to 5.08%.

As required in terms of section 122(3)(a) of the Companies Act, Bowler Metcalf has
filed the required notice with the Takeover Regulation Panel.


Cape Town
10 April 2017

Sponsor
 Arbor Capital Sponsors Proprietary Limited

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