Results of AGM and changes to the board AfroCentric Investment Corporation Limited (Incorporated in the Republic of South Africa) (Registration number: 1988/000570/06) JSE Code: ACT ISIN: ZAE000078416 (“AfroCentric” or “the Company” or “the Group”) RESULTS OF ANNUAL GENERAL MEETING (“AGM”) AND CHANGES TO THE BOARD Results of the AGM Shareholders are advised that at the annual general meeting held on Wednesday, 8 November 2018 (“AGM”), all resolutions as set out in the notice of the AGM which was incorporated in the 2018 Integrated Annual Report and distributed to shareholders on 9 October 2018, were duly approved by the requisite majority of shareholders present and voting, either in person or represented by proxy. Shareholders are advised that: - the total number of shares in issue as at the date of the AGM was 554 377 328; - the total number of shares that were present in person/represented by proxy at the AGM was 435 681 915 shares being 79% of the total number of shares in issue; and - Abstentions are represented below as a percentage of total number of shares in issue. Details of the results of the voting are as follows: RESOLUTION Shares voted Shares voted Shares for against abstained Ordinary Resolutions Ordinary resolution number 1: Re-election of directors 1.1 Ms DLL Dhlamini 435 465 941 13 700 202 274 100% 0.00% 0.04% 1.2 Mr SE Mmakau 435 520941 13 700 147 274 100% 0.00% 0.03% 1.3 Ms HG Motau 435 465 941 13 700 202 274 100% 0.00% 0.04% Ordinary resolution number 2: Appointment of Chairman and Members to the Audit Committee 435 465 941 13 700 202 274 2.1 Ms DLL Dhlamini 100% 0.00% 0.04% 435 520941 13 700 147 274 100% 0.00% 0.03% 2.2 Mr SE Mmakau 435 465 941 13 700 202 274 2.3 Ms HG Motau 100% 0.00% 0.04% Ordinary resolution number 3: 426 774 072 8 760 569 147 274 Re-appointment of independent external auditor 97.99% 2.01% 0.03% Ordinary resolution number 4: 426 546 109 8 988 532 147 274 General authority to issue shares for cash 97.94% 2.06% 0.03% Ordinary resolution number 5: 424 921 226 10 613 415 147 274 Approval of the remuneration policy 97.56% 2.44% 0.03% Ordinary resolution number 6: 423 939 787 11 594 854 147 274 Approval of the remuneration implementation report 97.34 2.66% 0.03% Ordinary resolution number 7: 435 496 795 37 846 147 274 Authorise directors and/or company secretary 99.99% 0.01% 0.03% Special Resolutions Shares voted Shares voted Shares for against abstained Special resolution number 1: 432 857 100 2 677 541 147 274 Approval of non-executive directors’ remuneration 99.39% 0.61% 0.03% Special resolution number 2: 435 084 974 449 667 147 274 General authority to repurchase shares 99.90% 0.10% 0.03% Special resolution number 3: 434 158 933 1 375 708 147 274 Financial assistance to related or Inter-related 99.68% 0.32% 0.03% company or companies Special resolution number 4: 434 158 933 1 375 708 147 274 99.68% 0.32% 0.03% Financial assistance for subscription of securities to related or Inter-related companies Changes to the board In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, the AfroCentric board of directors (“the Board”) hereby notifies shareholders that the Founding Directors, Meyer Kahn and Motty Sacks, have decided to retire from the Board, with effect from 8 November 2018. The Board would like to thank them both for their invaluable contribution to the Group. Their experience, guidance and wisdom will certainly be missed at Board and Committee meetings and generally within the Group. The Board and the Group wish them well on their retirement. Johannesburg 8 November 2018 Sponsor Sasfin Capital (a member of the Sasfin group) Date: 08/11/2018 02:25:00 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.