ADCORP HOLDINGS LIMITED - Dealing in securities by directors' associate

Dealing in securities by directors' associate

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

DEALING IN SECURITIES BY DIRECTORS’ ASSOCIATE

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

Directors                     :   Mr S Sithole and Mr MM Nkosi
Directors’ Associate          :   Value Capital Partners Proprietary
                                  Limited*

Date of transaction           :   3 December 2019
Number of securities          :   22 724
Nature of transaction         :   On-market acquisition of securities
Share price                   :   R11.35
Total value of transaction    :   R257 917.40

Date of transaction           :   5 December 2019
Number of securities          :   6 113
Nature of transaction         :   On-market acquisition of securities
Share price                   :   R11.51
Total value of transaction    :   R70 360.63

Date of transaction           :   5 December 2019
Number of securities          :   1 234 674
Nature of transaction         :   On-market acquisition of securities
Share price                   :   R12.50
Total value of transaction    :   R15 433 425.00

Nature of interest            :   Indirect, Beneficial
Clearance obtained            :   No


* Mr S Sithole and Mr MM Nkosi have an indirect beneficial interest in
Value Capital Partners Proprietary Limited (“VCP”), which is the advisor
to Legae Peresec Fund Platform Proprietary Limited, the registered
investment manager for various funds advised by VCP.


10 December 2019
Sandton

Sponsor: Nedbank Corporate and Investment Banking

Date: 10-12-2019 03:16:00
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