ZEDER INVESTMENTS LIMITED - Cautionary Announcement

Cautionary Announcement

ZEDER INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2006/019240/06)
Share code: ZED
ISIN: ZAE000088431
LEI: 37890022AF5FD117D649
(“Zeder” or the “Company”)

CAUTIONARY ANNOUNCEMENT

Shareholders are advised that the Company has recently received several approaches from
third parties interested in acquiring a number of Zeder portfolio investments (“Approaches”).

In the SENS announcement dated 9 September 2020, the Company’s board of directors
indicated that they were currently considering Zeder’s future strategy following the disposal of
its Pioneer Foods and Quantum Foods shareholdings. Such a new strategy could include
unlocking the value of its investments in a responsible way. Zeder has excellent investee
companies that are well positioned to continue playing a meaningful role and expand their
footprint both locally and on the continent.

Zeder is considering the Approaches in the context of its overall strategic review and is
engaging with certain of these parties. Should the Approaches ultimately result in Zeder
entering into transactions with one or more of these parties, such transactions may have a
material effect on the price of the Company’s securities. Accordingly, shareholders are advised
to exercise caution when dealing in the Company’s securities until a full announcement is
made.

The Company anticipates that the evaluation of these Approaches may take several months
to finalise.

Stellenbosch
14 April 2021

Sponsor
PSG Capital

Independent joint sponsor
UBS South Africa

Date: 14-04-2021 07:50:00
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.