Dealings by directors - redemption of preference shares AFROCENTRIC INVESTMENT CORPORATION LIMITED (Incorporated in the Republic of South Africa) (Registration number 1988/000570/06) JSE Code: ACT, ACTP ISIN: ZAE000078416, ZAE000082269 (“AfroCentric” or “the Company”) DIRECTORS DEALING ANNOUNCEMENT IN RESPECT OF THE EXERCISE OF CALL OPTIONS AND REDEMPTION AND DELISTING OF THE REDEEMABLE PREFERENCE SHARES IN THE ISSUED CAPITAL OF THE COMPANY AfroCentric Preference Shareholders are referred to a circular that was mailed to them on Monday, 28 October 2013 regarding the exercise of Call Options and redemption and delisting of all of the Preference Shares in issue as well as to the directors dealing announcement published on SENS on 15 November 2013 and the results of election announcement published on SENS earlier today. In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE the following information is disclosed: Name of Director : B Joffe Company : AfroCentric Date of transaction : 31 December 2013 Nature of transaction : Off market exercise of call options for new ordinary shares in AfroCentric pursuant to the redemption provisions attaching to each of the redeemable preference shares Class of security : Redeemable preference shares / Ordinary Shares Number of securities : 2 548 182 redeemable preference shares for 10 751 868 ordinary shares Trade price : R 4.20 Value of transaction : R 45,157,845.60 Nature of interest : Indirect non-beneficial Clearance obtained : Yes Further to the directors dealing announcement on 15 November 2013, the information that was not known at the time of the announcement is hereby announced: Name of Director : JM Kahn Number of securities : 3 784 981 redeemable preference shares for 15 970 452 ordinary shares Trade price : R 4.20 Value of transaction : R 67,075,898.40 Nature of interest : Direct beneficial Clearance obtained : Yes Name of Director : MI Sacks Number of securities : 3 787 981 redeemable preference shares for 15 983 225 ordinary shares Trade price : R 4.20 Value of transaction : R 67,129,545.00 Nature of interest : Direct beneficial Clearance obtained : Yes Johannesburg 3 January 2014 Sponsor Sasfin Capital, a division of Sasfin Bank Limited Date: 03/01/2014 11:51:00 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.