ADCORP HOLDINGS LIMITED - Dealing in securities by a directors associate

Dealing in securities by a director’s associate

Adcorp Holdings Limited
Registration number 1974/001804/06
Share code: ADR
ISIN number: ZAE000000139
(“Adcorp”)

DEALING IN SECURITIES BY A DIRECTOR’S ASSOCIATE

In compliance with the JSE Limited Listings Requirements, the following
information is disclosed in respect of dealing in Adcorp ordinary shares
(“securities” or “shares”) by an Adcorp director’s associate.

Value Capital Partners Proprietary Limited (“VCP”), in which Mr S
Sithole has an indirect beneficial interest, are the advisors to
Peregrine Fund Platform Proprietary Limited, the registered investment
manager for various funds advised by VCP (“VCP through its Funds”). VCP
has transferred 3 971 176 shares in the Company from the Value Active
PFP H4 QI Hedge Fund (“the Fund”) to the Sentinel Retirement Fund
Segregated Mandate (“the Segregated Mandate”). As VCP is the advisor to
both the Fund and the Segregated Mandate, there is no change in the
total interest in the securities of the Company held by VCP through its
Funds.

Director                      : Mr S Sithole
Director’s Associate          : Value Capital Partners Proprietary
                              Limited (in which Mr S Sithole has an
                              indirect beneficial interest), are
                              advisors to Peregrine Fund Platform
                              Proprietary Limited, the registered
                              investment manager of the Value Active PFP
                              H4 QI Hedge Fund
Date of transaction           : 20 December 2017
Number of securities          : 3 971 176
Nature of transaction         : On-market sale of securities
Share price                   : R17.00
Total value of transaction    : R67 509 992.00
Nature of interest            : Indirect, Beneficial
Clearance obtained            : Yes

Director                      : Mr S Sithole
Director’s Associate          : Value Capital Partners Proprietary
                              Limited (in which Mr S Sithole has an
                              indirect beneficial interest), are
                              advisors to Peregrine Fund Platform
                              Proprietary Limited, the registered
                              investment manager of the Sentinel
                              Retirement Fund Segregated Mandate.
Date of transaction           : 20 December 2017
Number of securities          : 3 971 176
Nature of transaction         : On-market acquisition of securities
Share price                   : R17.00
Total value of transaction    : R67 509 992.00
Nature of interest            : Indirect, Beneficial
Clearance obtained            : Yes
28 December 2017
Bryanston

Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd

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