AFRICAN PHOENIX INVESTMENTS LIMITED - No Change Statement

No Change Statement

AFRICAN PHOENIX INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1946/021193/06)
Ordinary share code: AXL       ISIN: ZAE000221370
Hybrid instrument code: AXLP      ISIN: ZAE000221388
(“Phoenix” or “the Company”)

NO CHANGE STATEMENT

Shareholders are advised that the integrated annual report for the year ended 30 September 2017
is available on the Company’s website at www.phoenixinvestments.co.za/#investor or
http://www.phoenixinvestments.co.za/indextest.php and is being distributed to shareholders today,
31 January 2018. The integrated annual report contains no modifications to the condensed audited
consolidated financial results for the year ended 30 September 2017 published on SENS on
7 December 2017.


Johannesburg
31 January 2018

Sponsor
Merchantec Capital

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