Renewal of Cautionary Ann - Specific Issue of shares for cash to ZigZag SA Inv 1 Ltd & AM Assoc The David Worth Grp VISUAL INTERNATIONAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/030975/06) (“Visual” or “the Company”) ISIN Code: ZAE000187407 Share Code: VIS RENEWAL OF CAUTIONARY ANNOUNCEMENT: SPECIFIC ISSUE OF SHARES FOR CASH TO ZIGZAG SA INVESTMENTS 1 LIMITED ("ZIGZAG") AND AM ASSOCIATES THE DAVID WORTH GROUP ("AM ASSOCIATES") Shareholders are referred to the previous renewal of cautionary announcements, the last of which was published on SENS on 10 July 2019, and are hereby advised that the due diligence process undertaken by Zigzag and AM Associates is still ongoing. This process is taking longer than anticipated, and a further announcement in this regard will be made as soon as practicable. A new agreement is expected to be signed on similar terms as previously announced. Accordingly, shareholders are advised to continue to exercise caution when dealing in their Visual securities until a full announcement is made. As announced previously, shareholders are also advised that, further to the announcement published on SENS on 1 July 2019 regarding the suspension of the listing of Visual’s securities by the JSE, the Company’s audit will need to be completed in relation to annual financial statements for the year ended 28 February 2019. The Company will apply to the JSE for the lifting of the suspension as soon as the results have been published and the Annual Report has been finalised. A further announcement in this regard will be made in due course. Cape Town 21 August 2019 Designated Advisor Arbor Capital Sponsors Proprietary Limited Date: 21/08/2019 08:55:00 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.