SOUTH OCEAN HOLDINGS LIMITED - Section 122 notice and dealing in securities by an associate of a director

Section 122 notice and dealing in securities by an associate of a director

South Ocean Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/002381/06)
Share code: SOH
ISIN: ZAE000092748
(“South Ocean” or “the Company”)


SECTION 122 NOTICE AND DEALING IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR


In accordance with Section 3.83(b) of the JSE Listings Requirements, South Ocean hereby confirms
that it has received a notice in terms of Section 122 of the Companies Act, No. 71 of 2008
(“Companies Act”).Macrovest Capital Proprietary Limited (“Macrovest”) has informed the
Company that it has disposed of a beneficial interest in the Company (“the Disposal”) in terms of
a redemption agreement signed in relation to the financing of the original acquisition of shares,
such that the total beneficial interest in the securities held by Macrovest is now 0% of the total
issued ordinary share capital of the Company.

As required in terms of Section 122 (3)(a) of the Companies Act, South Ocean will file the required
notices with the Takeover Regulation Panel.

As a result of the Disposal, in compliance with paragraphs 3.63 to 3.74 of the JSE Listings
Requirements, shareholders are advised that an associate of a director of the Company has
traded shares in South Ocean as follows:

 Name of associate:                      Macrovest (associate of Barend Petersen, a director of
                                         South Ocean)
 Date of transaction:                    10 June 2020
 Name of Company:                        South Ocean
 Number of securities:                   23 177 565
 Class of securities:                    Ordinary shares
 Nature of transaction:                  Sale
 Average price per share:                R0.42
 Nature of interest:                     Indirect beneficial
 Extent of interest:                     11.4%
 Value of transaction:                   R9 734 577.30
 How traded                              Off market
 Clearance to deal obtained              Yes

Johannesburg
15 June 2020

Sponsor
Arbor Capital Sponsors

Date: 15-06-2020 05:47:00
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