Finalisation Announcement and Timetable for Scheme of Arrangement Morvest Group Limited Previously Morvest Business Group Limited (Incorporated in the Republic of South Africa) Registration Number: 2003/012583/06 Share Code: MOR ISIN Code: ZAE000152567 (“Morvest” or “the Company”) FINALISATION ANNOUNCEMENT AND TIMETABLE FOR SCHEME OF ARRANGEMENT Shareholders are referred to the joint circular by Morvest and Varachia Investment Group Proprietary Limited (“VIG”) to Morvest shareholders, dated 9 June 2015,(“Circular”) regarding VIG’s offer to acquire the entire issued ordinary share capital of Morvest, not already owned by VIG or any party acting in concert with VIG, by way of a scheme of arrangement (“Scheme”). The Scheme was approved by Morvest shareholders on 8 July 2015. Shareholders are further referred to the conditions precedent to the Scheme (“Scheme Conditions”), as detailed in the Circular, and are hereby advised that all Scheme Conditions have been fulfilled. As a result of the Scheme becoming unconditional, the Company wishes to draw shareholders attention to the following important dates in relation to the implementation of the Scheme. Terms appearing in title case below that are not otherwise defined, bear the meanings assigned to them in the Circular. 2015 Last day to trade in order to be recorded in the Friday, 31 July Register on the Scheme Consideration Date Listing of Morvest Shares suspended on the JSE from Monday, 3 August commencement of trade on Scheme Consideration Record Date, being the date on Friday, 7 August which the Scheme Participants must be recorded in the Register in order to receive the Scheme Consideration, to be on Operative Date of the Scheme on Tuesday, 11 August Scheme Consideration to be paid/posted to Certificated Tuesday, 11 August Scheme Participants on Dematerialised Scheme Participants to have their Tuesday, 11 August accounts (held at their CSDP or Broker) credited with the Scheme Consideration on Termination of listing of Morvest Shares on the JSE at Wednesday, 12 the commencement of trade on the JSE on August Notes: All times referred to above are references to South African time. Johannesburg 24 July 2015 Transaction Advisor and Sponsor – PSG Capital Proprietary Limited Legal Advisor to Morvest – Mervyn Taback Incorporated Independent Expert – BDO Corporate Finance Proprietary Limited Date: 24/07/2015 08:51:00 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.