Basil Read Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 1984/007758/06) Share code: BSR ISIN: ZAE000029781 ("Basil Read" or the "Company") FULFILMENT OF CONDITIONS PRECEDENT


Basil Read Shareholders ("Shareholders") are referred to the results of the general meeting announcement released on the Securities Exchange News Service on Friday, 26 October 2012 and published in the press on Monday, 29 October 2012 whereby Shareholders were advised that the Broad Based Black Economic Empowerment transaction between the Company and SIOC CDT Investments Holdings Proprietary Limited ("SIOC") ("the Transaction") was approved by the requisite majority of Shareholders and that the Transaction was still subject to certain remaining conditions precedent.

Shareholders are hereby advised that all the remaining conditions precedent to the Transaction have
been timeously fulfilled and that the Transaction is now unconditional.

Johannesburg 16 November 2012


• Corporate Advisor to Basil Read: Deloitte & Touche Corporate Finance
• Lead and Transaction Sponsor to Basil Read: Deloitte & Touche Sponsor Services (Pty) Limited
• Sponsor to Basil Read: Macquarie First South Capital (Pty) Limited
• Attorneys to Basil Read: Werksmans & Ramsay Webber Inc.
• Independent expert: BDO Corporate Finance (Pty) Limited
• Reporting accountants and auditors: PwC Inc.
• Corporate Advisor and Fund Manager to SIOC: Arkein Capital Partners
• Investment Bank and Corporate Advisor to SIOC: Nedbank Capital
• Attorneys to SIOC: Schindlers Attorneys, Notaries & Conveyancers

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