SABVEST LIMITED - Finalisation announcement

Finalisation announcement

SABVEST LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1987/003753/06
Ordinary share code: SBV and ISIN: ZAE000006417
N ordinary share code: SVN and ISIN: ZAE000012043
("Sabvest" or "the Company")

FINALISATION ANNOUNCEMENT

Terms defined and used in the Scheme Circular and in the Prospectus have been used in this
announcement.

Shareholders are referred to the announcement released on the Stock Exchange News Service
("SENS") on 28 October 2019 in which they were advised of the proposed simplification of
Sabvest’s dual share structure, by way of the Proposed Restructure.

Shareholders were further advised, in the Report on Proceedings at the General and Scheme
Meetings announcement released on SENS on 27 March 2020, that all resolutions necessary to
implement the Proposed Restructure were approved by the requisite majority of votes.

The board of directors of Sabvest is pleased to confirm that all conditions precedent to the
Proposed Restructure have now been fulfilled.

The Proposed Restructure will therefore be implemented, in accordance with the timetable
below:

                                                                                                 2020
Delisting application in respect of the Sabvest Shares lodged with the JSE on        Wednesday, 6 May

Last day to trade in Sabvest Shares in order to be eligible to receive the Scheme     Tuesday, 12 May
Consideration

Sabvest Shares suspended from trading on the JSE with effect from the               Wednesday, 13 May
commencement of business on

Sabcap Ordinary Shares to be allocated to Scheme Participants and Scheme            Wednesday, 13 May
Participants can trade their entitlement to Sabcap Ordinary Shares on the Sabcap
Listing Date

Announcement released on SENS in respect of the cash payment applicable to           Thursday, 14 May
fractional entitlements to the Ordinary Share Scheme Consideration, based on the
VWAP of a Sabvest Ordinary Share traded on the JSE on Wednesday, 13 May 2020,
discounted by 10%, on

Scheme Record Date in order to be eligible to receive the Scheme Consideration         Friday, 15 May

Dematerialised N Ordinary Shareholders’ and Ordinary Shareholders’ accounts with       Monday, 18 May
their CSDP or Broker credited with the Scheme Consideration on the Scheme
Operative Date on or about

Certificated N Ordinary Shareholders’ and Ordinary Shareholders’ Scheme                Monday, 18 May
Consideration posted by registered post at the risk of such Certificated N Ordinary
Shareholders and Certificated Ordinary Shareholders on the Scheme Operative Date
on or about

Sabvest Shares delisted from the JSE with effect from the commencement of             Tuesday, 19 May
business on

Sandton
4 May 2020

Merchant Bank and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 04-05-2020 09:15:00
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