Results Of The Scheme Meeting RARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 2002/025247/06 Share Code: RAR ISIN: ZAE000180626 ("Rare" or "the Company") RESULTS OF THE SCHEME MEETING Rare shareholders are referred to the announcement published by Rare on 22 June 2016 (“the Announcement”), regarding the firm intention of Mayfair Speculators Proprietary Limited (“the Offeror”) to make an offer to acquire all ordinary shares in Rare, excluding those ordinary shares held by the Offeror, Stafric Investment and Management Services Proprietary Limited (“Stafric”) and Doculate Investments Proprietary Limited (“Doculate”), being 5 345 825 ordinary shares (“Scheme”). In addition, Rare shareholders are referred to the announcement published by Rare on 25 July 2016, whereby shareh olders were advised that the Scheme Circular, incorporating a notice convening a general meeting of shareholders at which a special resolution would be considered for purposes of approvi ng the Scheme (“Scheme Meeting”) had been distributed to share holders. Shareholders are hereby advised that the Scheme Meeting was held today, 24 August 2016 at Rare’s offices at 22 Old Vereeni ging Road, Kliprivier, Midvaal and that the special resolution s were passed by the requisite majority of Rare shareholders. The implementation of the Scheme remains subject to the fulfil ment (or waiver, where applicable) of all the outstanding Sche me Conditions and the terms envisaged in the Scheme Circular. The detailed voting results of the Scheme Meeting are set out below: Percentage FOR (Being Percentage the Percentage ABSTAINED percentage AGAINST (Being the of the (Being the percentage total percentage of the Number of shares of the total shares Number of voted) total shares entitled shares shares entitled Resolution to vote voted voted) to vote) Special 5 336 088 4 226 552 82. 41% 17.59% 20.79% resolution 1: Approval of the Scheme Special 5 336 088 4 226 552 82.41% 17.59% 20.79% resolution 2: Revocation of Special Resolution 1 Note – The voting rights exercisable by the Offeror, Doculate and Stafric were not taken into account for any purposes in re spect of the resolution listed above. IMPORTANT DATES AND TIMES Shareholders are referred to the important dates and times set out in the announcement released by Rare on 25 July 2016 and i n the Scheme Circular (which is available on Rare’s website at www.rare.co.za), which set out the remaining important dates a nd times relating to the Scheme. INDEPENDENT BOARD RESPONSIBILITY STATEMENT The independent board of Rare established to consider the Scheme accepts responsibility for the information contained in this announcement and, to the best of its knowledge and belief, confirms that the information is true and this announcement does not omit anything likely to affect the importance of the information included. By order of the Board Kliprivier 24 August 2016 Transaction Advisor and Designated Advisor: PSG Capital (Pty) Limited Date: 24/08/2016 04:06:00 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.