ADCORP HOLDINGS LIMITED - Dealing in securities by directors associate

Dealing in securities by directors’ associate

Adcorp Holdings Limited
Registration number 1974/001804/06
Share code: ADR
ISIN number: ZAE000000139
(“Adcorp”)

DEALING IN SECURITIES BY DIRECTORS’ ASSOCIATE

In compliance with the JSE Limited Listings Requirements, the following
information is disclosed in respect of dealing in Adcorp ordinary shares
(“securities”) by an associate of Adcorp directors:

Directors                     :   Mr S Sithole and Mr MM Nkosi
Directors’ Associate          :   Value Capital Partners Proprietary
                                  Limited*

Date of transaction           :   10 December 2019
Number of securities          :   48 500
Nature of transaction         :   On-market acquisition of securities
Average Share price           :   R12.3952
Lowest Share price            :   R12.33
Highest Share price           :   R12.40
Total value of transaction    :   R601 167.20

Date of transaction           :   11 December 2019
Number of securities          :   71 702
Nature of transaction         :   On-market acquisition of securities
Average Share price           :   R12.3122
Lowest Share price            :   R12.19
Highest Share price           :   R12.50
Total value of transaction    :   R882 809.36

Nature of interest            :   Indirect, Beneficial
Clearance obtained            :   Yes


* Mr S Sithole and Mr MM Nkosi have an indirect beneficial interest in
Value Capital Partners Proprietary Limited (“VCP”), which is the advisor
to Legae Peresec Fund Platform Proprietary Limited, the registered
investment manager for various funds advised by VCP.


13 December 2019
Sandton

Sponsor: Nedbank Corporate and Investment Banking

Date: 13-12-2019 12:00:00
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