Proposed Specific Repurchase of Ordinary Shares AFRICAN MEDIA ENTERTAINMEN LIMITED (Incorporated in the Republic of South Africa) (Registration number 1926/008797/06) Share code AME ISIN ZAE000055802 ("AME" or "the company") PROPOSED SPECIFIC REPURCHASE OF ORDINARY SHARES 1. Introduction As at 31 March 2019, the AME Share Incentive Trust ("the Share Trust") held 89 275 ordinary shares in AME ("the Share Trust Shares"). As the company has determined that this type of scheme is not ideal for its incentive purposes, the board of directors has resolved to repurchase the Share Trust Shares by way of a specific repurchase in accordance with the provisions of the Companies Act, No 71 of 2008, and the Listings Requirements of the Johannesburg Stock Exchange ("the JSE") ("the Specific Repurchase") and on 26 June 2019 reached an agreement to this effect with the Trustees for the time being of the Share Trust. 2. The Specific Repurchase In terms of the Specific Repurchase, the company will repurchase the Share Trust Shares from the Share Trust for a consideration of R34,90 per share, being the 30 day Volume Weighted Average Price of the ordinary shares of the company on the JSE preceding the date of agreement with the Trustees. There are no treasury shares held by the company. 3. Condition precedent The Specific Repurchase and its implementation are subject to the approval by shareholders of the company of the necessary special and ordinary resolutions required for this purpose at a General Meeting of the company. 4. Financial effects Implementation of the Specific Repurchase will have no effect on the earnings, headline earnings, net asset value or net tangible asset value per ordinary share of the company. 5. Circular to shareholders Resolutions enabling the Specific Repurchase and its implementation are contained in a notice of General Meeting which will be contained in a circular to shareholders of the company which will be distributed to shareholders within 60 days of this announcement. An application for the delisting of the Share Trust Shares will be lodged with the JSE upon such implementation. Johannesburg 28 June 2019 Sponsor Arbor Capital Sponsors (Pty) Limited Date: 28/06/2019 03:41:00 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.